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Foreign capital share in Georgian banking market exceeds 80 percent

Business Materials 1 July 2011 14:10
Since early 2011, the net income of Georgian commercial banks reached 98.2 million lari, the National Bank of Georgia told Trend on Thursday.

Georgia, Tbilisi, July 1 / Trend, N. Kirtskhalia /
Since early 2011, the net income of Georgian commercial banks reached 98.2 million lari, the National Bank of Georgia told Trend on Thursday.
As of June 1, 2011, Georgia's banking sector was represented by 19 commercial banks. Among them, 15 banks and two branches of foreign banks operated with a foreign capital share.
According to a report, the total assets of commercial banks in May compared to the previous month increased by 92.9 million lari ($1 = 1.66 lari), which would be by 0.9 percent, amounting to 10.775.6 million lari.
Private banking sector funds were at the level of 1.810.9 million lari, which is 16.8 percent of total assets.
The foreign capital share in the total capital of Georgian commercial banks hit 81.4 percent.
The banking sector ended May and April with a profit, with a net profit which amounted to 16.8 million lari. The profit from early this year was 98.2 million lari.
May's share of total assets of the banking sector from five of the largest banks decreased by 0.7 percentage points in comparison with the previous month, hitting 77.9 percent.

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