BAKU, Azerbaijan, June 22
By Tamilla Mammadova – Trend:
Georgian banking sector posted a record profit of 764.995 million lari ($242.4 million) from January through May, Trend reports via the National Bank of Georgia (NBG).
According to the National Bank of Georgia, the profit of banks in May amounted to 180.117 million lari ($57.08 million) that is 126.764 million lari ($40.1 million) more than in the same period of the previous year, and 7.046 million lari ($2.2 million) more than last month.
Bank of Georgia saw a profit of 363.5 lari ($115.2 million) from January through May, TBC is in second place with a profit of 294.7 million lari ($93.4 million), and on the bottom of the top three is Liberty Bank with 18.03 million lari ($5.7 million). ProCredit Bank is in the fourth place with 15.5 million lari ($4.9 million), Cartu Bank is in the fifth place with 13.5 million lari ($4.2 million).
Net profit received by commercial banks in 2021:
January - 113.368 million lari ($35.9 million);
February - 132.115 million lari ($41.8 million);
March - 166.324 million lari ($52.7 million);
April - 173.071 million lari ($54.8 million);
May - 180.117 million lari ($57.08 million).
According to the NBG, in May 2021 commercial banks earned 480.397 million lari ($152.2 million), of which interest income was 395.658 million lari ($125.3 million). Expenses of commercial banks in March amounted to 275.682 million lari ($87.3 million).
Revenues received from penalties and fines amounted to 4.979 million lari ($1.5 million); net profit from conversion operations amounted to 13.767 million lari ($4.3 million). Last month, banks earned 35.136 million lari ($11.1 million) in commissions and services.
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