BAKU, Azerbaijan, November 5
By Tamilla Mammadova – Trend:
Commercial banks in Georgia received 303.2 million lari ($102.6 million) profit from currency trading from January through September 2019, Trend reports referring to the National Bank of Georgia.
This is 86.5 percent more compared to the same period last year.
According to the data of commercial banks, in the last three months only, the profit of Georgian banks from operations with foreign currency increased by 164.9 million lari ($55.7 million).
The profitability of 15 banks for the second quarter of 2019 amounted to 138.2 million lari ($46.7 million).
Last year, commercial banks received 230.7 million lari ($78 million) from currency transactions.
In the second quarter of 2019, TBC Bank was the leader in foreign exchange earnings with 131.8 million lari ($44.5 million), followed by the Bank of Georgia with 107.4 million lari ($36.3 million).
VTB Bank ranked third with 21.2 million lari ($7.17 million), followed by ProCredit Bank with 13.9 million lari ($4.7 million).
Liberty Bank ranks fifth with 13.1 million lari ($4.4 million), and Cartu Bank with 4 million lari ($1.3 million) is in sixth place.
During the reporting period, 15 commercial banks were operating on the market.
(1 USD = 2.96 GEL on November 5)
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