Georgian commercial banks’ assets grow

Business Materials 31 January 2012 10:09 (UTC +04:00)

Georgia, Tbilisi, Jan. / Trend, N. Kirtskhalia /

As of Jan. 1, 2011, total assets of Georgian commercial banks (in current prices) increased by 0.8 billion lari ($ 1 = 1.67 lari), or 6 and 7 percent and amounted to 12.7 billion lari compared to the previous month, the National Bank of Georgia told Trend on Monday.

The banking sector's own funds (equity capital) equal to 2.1 billion lari, which makes up 16.6 percent of commercial banks' total assets.

As of Jan.1, 2012, the banking sector in Georgia is represented by 19 commercial banks, including 16 foreign-controlled banks and two branches of non-resident banks.

The share of foreign capital in banks' total paid-in capital constituted to 78.1 percent.

In 2011 the banking sector finished with profit. The net profit year-to-date constituted 323.0 million lari.

The share of five banks having the largest assets within the total amount of the banking sector assets constituted 80.0 percent.