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Net Profits of Commercial Banks Totaled 119.1 million GEL in December

Net profits of the Georgian banking sector made up 119.1 million GEL in December 2018, down 22% compared to December 2017.

According to the National Bank of Georgia (NBG), the sector’s net profits in December 2017 was 152.56 million GEL. Untaxed profits in December 2018 constituted 136.495 million GEL.

A total of 15 commercial banks operated in Georgia in 2018, 16 ones in December 2017. 

Revenues of commercial banks in December 2018 made up 392.443 million GEL and expenditures amounted to 255.949 million GEL. As to December 2017, commercial banks received 403.272 million GEL revenues and their expenditures constituted 228.03 million GEL.