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Total assets of Georgian banks increase

Finance Materials 1 December 2020 10:17 (UTC +04:00)
Total assets of Georgian banks increase

BAKU, Azerbaijan, Dec. 1

By Tamilla Mammadova – Trend:

The total assets of Georgian banks have increased by 18 percent year-on-year despite the economic crisis and amounted to 54 billion lari ($16.3 billion), Trend reports via National Bank of Georgia.

However, banks’ revenue from the issued loans has grown as well, which amounted to 2.9 billion lari ($877 million) in 9 months.

In 2019, this figure was 2.7 billion lari ($816.5 million), although the net profit of banks has deteriorated sharply. In total, all fifteen commercial banks lost 252 million lari ($76.2 million) instead of profit.

However, the main determinant of the existing losses is accumulation of 1.2 billion lari (362.9 million) in the expected credit loss reserve.

Rating of Georgian banks according to profit / loss:

1)Bank of Georgia - 77.51 million lari loss ($23.4 million);
Asset volume - 19.34 billion lari ($5.8 billion), annual growth 19.3 percent

2)TBC Bank - 50.02 million lari loss ($15.1 million);
Asset volume - 20.96 billion lari ($6.3 billion), annual growth 18.5 percent

3) BANK CARTU - 29.93 million lari loss ($9.5 million);
Asset volume - 1.40 billion lari ($423.4 million), annual growth 14.1 percent

4) VTB Bank - 21.20 million lari loss ($6.4 million);
Asset volume – 1.94 billion lari ($586.7 million), annual growth 16.3 percent

5)Pasha Bank Georgia - 9.75 million lari loss ($2.9 million);
Asset volume - 464.71 million lari ($140.5 million), annual decrease -5.5 percent

6)Liberty Bank - 17.28 million lari loss ($5.2 million);
Asset volume – 2.76 billion lari ($834.7 million), annual growth 33.2 percent

7)Halyk Bank Georgia - 16.38 million lari loss ($4.9 million);
Asset volume – 604.20 million lari ($182.7 million), annual growth 17.6 percent

8)Terabank - 15.05 million lari loss ($4.5 million);
Asset volume - 1.23 billion lari ($372 million), annual growth 21.1 percent

9)Procredit Bank – 6.01 million lari loss ($1.8 million);
Asset volume - 1.74 billion lari ($526.2 million), annual growth 11.7 percent

10)Finca Bank - 4.06 million lari ($1.2 million) loss;
Asset volume - 280.46 million lari ($84.8 million), annual decrease -2.8 percent

11)Basis Bank – 1.11 million lari loss ($335,711);
Asset volume - 1.73 billion lari ($523.2 million), annual growth 11.8 percent

12)Silk Road Bank - 246,045 lari ($) profit;
Asset volume - 89.21 million lari ($26.9 million), annual growth 6.2 percent

13)Is Bank – 347,897 lari ($74,414) profit
Asset volume - 324.96 million lari ($98.2 million), annual growth 15 percent

14)Ziraat Bank – 496,198 lari ($150,071) profit
Asset volume - 123.86 million lari ($37.4 million), annual decrease -13.4 percent

15)Credo Bank – 5.11 million lari ($1.5 million) profit
Asset volume - 1.30 billion lari ($393.1 million), annual growth 38.7 percent.

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