BAKU, Azerbaijan, June 24
By Tamilla Mammadova – Trend:
The profit of the banking sector amounted to 764.9 million lari ($243.2 million) from January through May 2021, while in May the profit increased by 126.7 million lari ($40.2 million) compared to May 2020, Trend reports via National Bank of Georgia.
The most profitable among banks was TBC Bank, which made a profit of 363.5 million lari ($115.5 million). It is followed by the Bank of Georgia - 294.7 million lari ($93.7 million), in third place is Liberty Bank, which received a profit of 15.5 million lari ($4.9 million) in the reporting period.
In general, according to the results of the past 5 months, the most productive for the Georgian banking sector was May, when the profit amounted to 180.1 million lari ($57.2 million). In the remaining months, the indicator was distributed as follows: January - 113 3 million lari ($36.02 million), February - 132 1 million lari ($42 million), March - 166.3 million lari ($52.8 million), April - 173 million lari ($55 million).
According to the National Bank, in May 2021, the banking sector's income amounted to 480.3 million lari ($152.7 million), of which interest income amounted to 395.6 million lari ($125.7 million).
In addition, the income received from the payment of fines by clients amounted to 4.9 million lari ($1.5 million), conversion operations 13.7 million lari ($4.3 million).
In 2020, the banking sector's profit amounted to 99.2 million lari ($31.5 million), and this was the lowest profit in recent years.
The reason for this was the first months after the outbreak of the pandemic, when banks had to go for a massive delay in paying clients' debts.
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