Foreign capital share in equity of Georgian banking sector hits 74.5 per cent

Business Materials 27 March 2013 20:09 (UTC +04:00)

Azerbaijan, Baku, March 27 / Trend N. Kirtzkhalia /

As of March 1, the Georgian banking sector has been represented by 20 commercial banks, including 15 and three branches of foreign banks with shares in the authorised capital.

The assets of commercial banks increased by 17.9 million lari, that is by 0.1 per cent to 14.2 billion lari compared to the previous month.

Own funds of the banking sector amounted to 2.5 billion lari or 17.6 per cent of total assets of commercial banks, the Georgian National Bank said. Foreign share in the authorised capital amounted to 74.5 per cent.

The sector obtained a profit last month. Net profit amounted to 29.2 million lari. The share of the five largest banks in the assets of the banking sector amounted to 79.8 per cent.