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VTB Bank Replaces Procredit Bank in Georgia’s Top 5 Leading Banks

According to the data of banking sector 14.065 billion deposits are located in Georgian banks out of which 81% belong to top 5 banks.

Portfolio of legal and individual entities, has increased by 26%, VTB Bank has Replaced Procredit Bank in Georgia’s Top 5 Leading Banks.

Banking sector’s revenues of 11 months exceed 3,1 billion GEL, while 1,8 billion (58%) is gained from loans.

Banks’ revenues are grown by 38% year-over-year (01.12.14 – 2,288), which exceeds by 4,9% (more 8 times) comparing to the previous year’s growth year-over-year.

The expenditures total to 2,6 billion GEL through January – November (01.12.14 – 1,8 billion) and the share of expenditures made on deposits do not exceed 20% (504 million).

The banks have transferred over 52 million as a revenue tax in the budget through January-November (-24% year-over-year).

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