Bank of Georgia’s profit hits over $80 mln in 2011
Georgia, Tbilisi, Dec. 23 / Trend N. Kirtskhalia /
Bank of Georgia's profit hits 135 million lari ($ 1 = 1.65 lari) as of 2011, director general of the bank Irakli Gilauri said at the press conference on Thursday.
He said that despite 2011 is not over yet, the management calculated that the net profit will hit 135 million lari.
According to the preliminary data, the bank deposits increased by 17 percent in 2011, i.e. 550 million lari, up to 2.3 billion lari. The loan portfolio increased by 17 percent, i.e. 400 million. The figure hits 2.6 billion lari.
"Bank of Georgia" will officially join the segment of the premium listing on the London Stock Exchange from March 1, Gilauri said. The process of admission to the segment of the premium listing will be completed by February 28. The bank will place its shares in a premium listing from March 1.
He said that "Bank of Georgia" said about its decision to place shares on the London Stock Exchange in the segment of premium listing on September 5, 2011.
On December 20, the bank announced about the official tender offer to exchange all common shares.