BAKU, Azerbaijan, October 27
By Tamilla Mammadova – Trend:
Georgian commercial banks suffered a total loss of 252 million lari ($78.4 million) from January though September 2020, Trend reports via the National Bank of Georgia (NBG).
It’s worth mentioning that compared to the second quarter when 14 out of 15 commercial banks reported a loss, 4 banks in the third quarter ended with a profit .
The rating of profitable banks is as follows:
Credo Bank - 5.1 million lari ($1.5 million);
Ziraat Bank Georgia - 0.5 million lari ($155,753);
Bank of Georgia - 0.3 million lari ($93,451);
Silk Road Bank - 0.2 million lari ($62,301).
In September the financial performance of the banking industry improved - if as of August 2020 the total loss of the banking system amounted to 317 billion lari ($98.7 billion) in September this figure decreased to 252 million lari ($78.4 million).
NBG President also made a statement on the financial performance of banks. According to Koba Gvenetadze, the banks’ profit is expected to return to previous years’ figures in 2021 .
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