Georgian banking sector finishes 2011 with profit

Business Materials 31 January 2012 17:11 (UTC +04:00)

Georgia, Tbilisi, Jan.31 / Trend, N.Kirtskhalia /

The banking sector of Georgia finished 2011 with profit. According to the National Bank of Georgia, in 2011 net profit of the country's banks amounted to 323 million lari ($1=1.67 lari).

The share of foreign capital in banks' total paid-in capital hit 78.1 percent. The banking sector's own funds (equity capital) were amounted to 2.1 billion lari, which is equal to 16.6 percent of commercial banks' total assets.

The share of five banks having the largest assets within the total amount of the banking sector assets constituted 80 percent.

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.