BAKU, Azerbaijan, Feb. 8
By Tamilla Mammadova – Trend:
All commercial banks operating in Georgia already submitted financial results for 2020 to the National Bank of Georgia (NBG), Trend reports via the NBG.
According to the report, the total assets of Georgian banks increased by 22 percent year-on-year despite the economic crisis, and amounted to 54 billion lari ($16.3 billion).
However, the sector’s total profit is 8 times down. The sector’s profit made up 99 million lari ($29.9 million) in 2020, while all fifteen commercial banks had a total profit of 853 million lari ($257.9 million) in 2019.
Moreover, 8 banks suffered losses. Cartu Bank had the highest loss of 24.7 million lari ($7.4 million). TBC Bank had the largest net profit of 123 million lari ($37.1 million).
However, the main determinant of the existing losses is accumulation of 1.2 billion lari ($362.8 million) in the expected credit loss reserve. In total, Georgian commercial banks have reserved 1.22 billion lari ($368.8 million) in the "Possible Assets Loss" buffer, which reflects the amount of possible loan losses due to the expected crisis.
Rating of Georgian banks by profit / loss:
1) TBC Bank - net profit of 123.18 million lari ($37.2 million), asset volume - 21.72 billion lari ($6.5 billion);
2) Bank of Georgia - net profit of 57.10 million lari ($17.2 million), asset volume - 20.22 billion lari ($6.1 billion);
3) Credo Bank - net profit of 13.95 million lari ($4.2 million), asset volume - 1.39 billion lari ($420.2 million);
4) Basisbank - net profit of 5.97 million lari ($1.8 million), asset volume - 2 billion lari ($604.7 million);
5) ProCredit Bank - net profit of 3.53 million lari ($1.06 million), asset volume - 1.89 billion lari ($571.4 million);
6) Ish Bank Georgia - net profit of 2.79 million lari ($843,578), asset volume - 327.31 million lari ($98.9 million);
7) Ziraat Bank Georgia - net profit of 1.40 million lari ($423,301), asset volume - 128.76 million lari ($38.9 million);
8) Silk Road Bank - loss of -1.18 million lari ($356,782), asset volume - 79.66 million lari ($24.08 million);
9) Finca Bank Georgia - 2.88 million lari ($870,790) loss, asset volume - 283.23 million lari ($85.6 million);
10) Halyk Bank Georgia - loss of 12.89 million lari ($3.8 million), asset volume - 635.23 million lari ($192 million);
11) Terabank - 13.83 million lari ($4.1 million) loss, asset volume - 1.26 billion lari ($380.9 million);
12) VTB Bank Georgia - loss of 14.77 million lari ($4.4 million), asset volume - 2.04 billion lari ($616.8 million);
13) Liberty Bank - loss of -15.17 million lari ($4.5 million), asset volume - 2.98 billion lari ($901 million);
14) Pasha Bank Georgia - loss of 23.19 million lari ($7.01 million), asset volume - 469.85 million lari ($142.06 million);
15) Cartu Bank - loss of 24.75 million lari ($7.4 million), asset volume - 1.40 billion lari ($423.3 million).
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