BAKU, Azerbaijan, December 12
By Tamilla Mammadova – Trend:
Net profit of Georgian commercial banks amounted to 87.9 million lari ($30.5 million) in November 2019, which is 8.7 million lari ($3 million) less compared to October 2019, Trend reports referring to National Bank of Georgia (NBG).
Meanwhile, this amount by 15.5 million lari ($5.3 million) less than in the same period of 2018.
In October 2019, commercial banks' earnings amounted to 403.8 million lari ($140.2 million) and their total expenditures amounted to 271.9 million lari ($94.4 million).
Banking sector appropriated borrowers’ property worth 210.6 million lari ($73.1 million) in October as payment of overdue debts.
The value of property appropriated by banks increased by 48.2 million lari ($16.7 million) compared to the same period of the previous year.
In October 2018, this figure amounted to 162.4 million lari ($56.3 million).
According to NBG, as of October 2019 the amount of write-off loans amounted to 14.9 million lari ($5.1 million), while in the same period of the last year the loans in the amount of 29 million lari ($10 million) were written off.
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