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Georgian banking assets increase by $27 million last month

Business Materials 2 January 2012 15:31 (UTC +04:00)

Georgia, Tbilisi, Jan 2 /Trend N.Kirtzkhalia/

As at 1 December 2011, Georgia's banking sector was represented by 19 commercial banks, among them 16 with authorised capital where foreign investments are involved and two foreign bank branches, Georgia's National Bank told Trend.

Total assets of the commercial banks increased to 44.9 million lari ($ 1 = 1.67 lari), by 0.4 per cent, to 11.9 billion lari compared to the previous month.

The own funds of the banking sector are two billion lari, which equals to 17 per cent of total assets. Participation of foreign capital in the aggregate authorised capital of the banks amounted to 81.8 per cent.

The banking sector ended November as well as the previous month with a profit and net profit amounting to 55.5 million lari and 290.3 million lari since the beginning of the year.

The share of five of the largest banks' total assets increased by 0.6 percentage points and accounted for 80 per cent compared to the previous month,.

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