BAKU, Azerbaijan, Sept. 2
Tamilla Mammadova – Trend:
Banks operating in Georgia in the seven months of 2021 received a profit of 1.24 billion lari ($399.3 million), Trend reports via the National Bank of Georgia (NBG).
In total, in the 7 months of 2021, banks received 3.39 billion lari ($1.09 billion) in total revenue. For comparison, this amount is 26 percent more than in the same period last year.
In total, the amount of interest income from loans is 2.34 billion lari ($753.6 million). More specifically, the income of banks from loans to individuals was 1.38 billion lari ($444 million), this amount is increased by 19 percent annually. Interest income from loans to legal entities increased by 23 percent this year and amounted to 931 million lari ($299.8 million).
Banks earned 259 million lari ($83.1 million) from commissions, fines and conversion operations.
As for their expenses - the biggest expense was the interest accrued on deposits of citizens and businesses, which amounted to 745.4 million lari ($240 million). At the same time, banks spent 424 million lari ($136.5 million) on servicing their loans (to foreign and local financial institutions).
Banks operating in the country have issued 438 million lari ($141 million) in salaries to their employees. Bank administration and office maintenance costs have increased by 13 percent this year.
In total, the banking system generated a profit of 1.38 billion lari ($444.4 million), for which it paid a profit tax of 139 million lari ($44.7 million). As a result, bank owners and shareholders were left with a net profit of 1.24 billion lari.
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