Baku, Azerbaijan, July 29
By Tamilla Mammadova – Trend:
Georgian TBC BANK Group's net profit amounted to 125 million lari for 2H2019 on the London Stock Exchange (LSE) that is 5 million lari more compared to the same period of 2018, Trend reports via TBC Bank's report.
The Group's profits in 1Q2019 amounted to 133 million lari, while in 1H2019 the total profit stood at 258 million lari.
The Group’s assets amounted to 17.2 billion lari as of June 30, 2019, which is 27 percent more than in 2018.
Meanwhile, the total volume of loans issued by TBC Bank has increased by 25 percent annually and amounted to 11.1 billion lari. A volume of deposits grew 24.5 percent and totaled 9.9 billion lari as of June 30, 2019.
The bank accounts for 39 percent of Georgian banking sector‘s assets, 38.5 percent of loans and 41 percent of deposits.
TBC Bank is one of the largest banks in Georgia. It was founded in 1992 and the bank received a license for international transactions in 1993. In 2000, the International Finance Corporation (IFC) and the German Investment and Development Corporation (DEG) became shareholders of TBC Bank.
In 2004, TBC Bank was recognized as one of the best banks in the world operating in the foreign exchange market. In 2011, Euromoney, one of the largest financial magazines in Europe, awarded TBC Bank the title of “Best Bank in Georgia”.
(1 USD = 2.92 GEL on July 29)