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Profits of Commercial Banks Decline

The past three months have recorded a decline in profits of commercial banks. In April, net profits constituted 60 million GEL, down 15.5 million GEL compared to March and down 30 million GEL compared to February 2018.

In April 2017 net profits of commercial banks made up 37.5 million GEL, in March – 115 million GEL and in February – 84 million GEL.

Along with downturn in profits, budget payments have also shrunk. In April, commercial banks paid 5.3 million GEL profits tax, in March – 8 million GEL and in February 11 million GEL.