BAKU, Azerbaijan, Sept.7
By Tamilla Mammadova – Trend:
Consolidated losses of Georgia-based commercial banks in the first half of 2020 marked 486 million laris ($158.3 million), Trend reports via the financial report of National Bank of Georgia (NBG).
The losses rose after commercial banks made reserves for available losses of 1.2 billion laris ($391.1 million). On the whole, Georgian commercial banks reserved a buffer of 1.22 billion laris ($397.6 million) against “Available Losses in Assets”. According to the financial report, the major loss is reported at Bank of Georgia – 157.2 million laris ($51.2 million). TBC Bank is second with 156.4 million laris ($50.9 million).
According to the NBG, 14 commercial banks of 15 ones have finished the reporting period in losses. Silk Road Bank turned out an only bank that ended the first half in profits. Rating of Georgia-based commercial banks due to net profits/losses:
1.Bank of Georgia – loss of 157.2 million laris ($51.2 million)
2.TBC Bank – loss of 156.4 million laris ($50.9 million)
3.Bank Cartu – loss of 26.9 million laris ($8.7 million)
4.VTB Bank – loss of 26.1 million laris ($8.5 million)
5.Liberty Bank – loss of 20.4 million laris ($6.6 million)
6.Terabank – loss of 19.6 million laris ($6.3 million)
7.Halyk Bank – loss of 19.2 million laris ($6.2 million)
8.Pasha Bank – loss of 16.7 million laris ($5.4 million)
9.Basis Bank – loss of 12.9 million laris ($4.2 million)
10. Procredit Bank – loss of 11.6 million laris ($3.7 million)
11.Credo Bank – loss of 4.7 million laris ($1.5 million)
12.Finca Bank – loss of 3.3 million laris ($1.07 million)
13.Ish Bank – loss of 1.7 million laris ($554,064)
14.Ziraat Bank – loss of 0.2 million laris ($65,184)
15.Silk Road Bank – profit of 0.25 million laris ($81,480).
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