Georgian commercial banks' total assets jump

Business Materials 29 July 2011 20:10 (UTC +04:00)

Georgia, Tbilisi, July 29 / Trend N.Kirtzkhalia /

As July 1, 2011, the banking sector in Georgia is represented by 19 commercial banks, including 15 foreign-controlled banks and two branches of non-resident banks, the Georgian National Bank reported.

Compared with the previous month, total assets of Georgian commercial banks (in current prices) increased by 444.7 million lari (by 4.1 percent) and constituted 11220.3 million lari. The banking sector's own funds (equity capital) equal to 1835.1 million lari, which makes up 16.4 percent of commercial banks' total assets.

The share of foreign capital in banks' total paid-in capital constituted to 81.4 percent.

In June 2011, as well as in the previous month, the banking sector finished with profit. The net profit constituted 20.9 million lari and net profit year-to-date constituted 119.1 million lari.

The share of five banks having the largest assets within the total amount of the banking sector assets increased by 0.6 percentage points compared to the previous month and constituted 78.5 percent.