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Georgian commercial banks' net profit up

Finance Materials 23 June 2020 16:44 (UTC +04:00)
Georgian commercial banks' net profit up

BAKU, Azerbaijan, June 23

By Tamilla Mammadova – Trend:

Georgian commercial banks' net profit amounted to 53.35 million lari ($17.6 million) in May 2020, which is 10.63 million lari ($3.5 million) more compared to the same period of the previous year, Trend reports with reference to National Bank of Georgia (NBG).

Revenues received by commercial banks from fines/penalties amounted to 1.21 million lari ($399,540), and the net profit/loss from conversion operations, i.e. currency transactions, amounted to 52.88 million lari ($17.4 million).

In the reporting period, the banks received 20.93 million lari ($6.9 million) from commissions and services.

As reported, in May 2020, the banks' revenues amounted to 362.62 million lari ($119.7 million), of which interest income was 306.33 million lari ($101.1 million), and bank expenditures amounted to 301.91 million lari ($99.6 million).

Meanwhile, last year, the net loss of 15 commercial banks totaled 953.63 million lari ($314.8 million).

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