Georgia, Tbilisi, May 11 / Trend N. Kirtzkhalia /
Changes have occurred to the top five profitable banks in Georgia since 2011, the Georgian National Bank reported on Friday.
According to the Central Bank, as of the first quarter of this year, "Bank of Georgia" regained its leadership, which moved into the first place with a profit of 43 million lari.
It was followed by "TBC Bank" with a profit of 23 million lari. After eight millionth loss in the same period of 2011, bank "Republic" ranked third with a profit of 6 million lari this year.
Procredit Bank's profit almost doubled and amounted to 5 million lari.
"VTB Bank" with a profit of 4.5 million lari ranks fifth.
According to the official data of the Georgian National Bank, 6 commercial banks completed the first quarter of 2012 with a loss.
The Georgian banking sector has been represented by 17 banks and 2 branches of foreign banks.
The official exchange rate is 1,6221 lari/dollar on May 11.