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Profit of Georgian banking system up

Business Materials 24 November 2020 11:48 (UTC +04:00)
Profit of Georgian banking system up

BAKU, Azerbaijan, Nov. 24

By Tamilla Mammadova – Trend

The profit of the banking system of Georgia in October 2020 amounted to 166.2 million lari ($50.4 million), which is 110.5 million lari ($33.5 million) more than in September, Trend reports via National Bank of Georgia (NBG).

The banks' net profit amounted to 64.6 million lari ($19.5 million).

According to the National Bank, in October 2020, banks' income from penalties amounted to 5.5 million lari ($1.6 million), loss from conversion operations - 3.2 million lari ($970,487), income from commissions - 32.3 million lari ($9.7 million).

In October 2020, the income of the banking system of Georgia amounted to 442.05 million lari ($134.06 million), of which 358.9 million lari ($108.8 million) fell on interest activities. The expenses of commercial banks amounted to 250.2 million lari ($75.8 million).

In 2019, the profit of the banking system of Georgia amounted to 953.6 million lari ($289.2 million).

There are currently 15 commercial banks operating in the country.

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