BAKU, Azerbaijan, Jan. 21
By Tamilla Mammadova – Trend:
The net profit of Georgian commercial banks amounted to 99.26 million lari ($30.1 million) in 2020 which is an 89.6 percent decrease compared to last year when net profit amounted to 953.63 million lari ($289.9 million), Trend reports via the National Bank of Georgia (NBG).
In March 2020, commercial banks suffered a loss of 943.13 million lari ($286.7 million).
In the following months, banks suffered no loss.
As for December 2020, net profit amounted to 100.73 million lari ($30.6 million) which is 16.24 million lari ($4.9 million) more compared to November 2020 and 31.28 million lari ($9.5 million) less compared to December of last year.
There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
The property appropriated by Georgian commercial banks amounted to 248.6 million lari ($75.5 million) as of November 2020.
According to the review, the value of property appropriated by banks increased annually by 37.7 million lari ($11.4 million). In particular, in November 2019, this figure was 210.9 million lari ($64.1 million).
At the same time, according to the NBG, in November the number of loans written off amounted to 28.6 million lari ($8.6 million) against 22.5 million lari ($6.8 million) in the same period of 2019. Georgian microfinance companies appropriated 7 million lari ($2.1 million) fewer borrowers’ property as payment of debts on loans.
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