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Georgia shares data on profits of country's banking sector

Finance Materials 29 June 2021 22:35 (UTC +04:00)

BAKU, Azerbaijan, June 29

Tamilla Mammadova – Trend:

Georgian banking sector earned 765 million lari ($243.7 million) from January through May that is 1.3 million lari ($414,150) more than in the same period of 2020, Trend reports via the National Bank of Georgia.

As reported, some 86 percent of the amount accounts for two dominant banks - the total profit of TBC Bank and Bank of Georgia amounted to 695 million lari ($221.4 million) in the first 5 months.

In the reporting period, the profit of Bank of Georgia amounted to 364 million lari ($115.9 million), while in the same period of 2020 the bank suffered losses in the amount of 231 million lari ($73.5 million).

TBC Bank’s profit amounted to 295 million lari ($93.9 million) - in the same period of 2020, TBC Bank's losses amounted to 203 million lari ($64.6 million).

The top three banks in terms of profit includes Liberty Bank (18 million lari/($5.7 million)), ProCreditbank (15.5 million lari /$4.9 million) and Cartu Bank (13.5 million lari/$4.3 million).

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