Total income of banks in Georgia increases by 7.5%
Baku, Azerbaijan, August 29
By Tamilla Mammadova – Trend:
The total income of Georgian banks increased by 7.5 percent in the first seven months of 2019 compared to the same period last year and amounted to 2.48 billion lari, Trend reports referring to National Bank of Georgia.
According to the bank, in January-July 2019, the largest income Georgian banks received from currency exchange (202.91 million lari).
In the reported period, income from operations with foreign currency in banks of Georgia amounted to 206.65 million lari, which is 69.6 percent more compared to the same period in 2018.
Income from fines increased and amounted to 55.18 million lari, which is 18 percent more than in the same period last year.
Banks received interest income in the amount of 1.11 billion lari on loans to individuals (growth by 2.9 percent). The interest income from legal entities amounted to 644.10 million lari (increase of 17 percent).
The interest received by the banks from the citizens' deposits amounted to 484.38 million lari, which is 12.5 percent more than in the same period of 2018.
In January-July 2019, the banks paid 744.16 million lari for administrative, office and operating expenses, which is 11 percent more than in the first seven months of 2018.
The total profit before tax of Georgian Banks amounted to 498 million lari, and the net profit was 443 million lari. Income tax paid amounted to 44.9 million lari, and contingency expenditures made up 9.9 million lari.
(1 USD = 2.94 GEL on August 29)