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Banking Sector’s Profits Grow

The Banking Sector’s Profits in last years Exceeded the 2001-2013 Profits Twice According to the National Bank of Georgia (NBG), in 2017 net profits of Georgia-based commercial banks (profits after profits tax) made up 870 million GEL, up 191 million GEL as compared to the 2016 indicators (+28%). Net profits …

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ProCredit Bank’s Portfolio Dollarization Declines to 80%

ProCredit Bank's Portfolio Dollarization Declines to 80%

ProCredit Bank’s portfolio dollarization has declined to 80% (L/Y – 85%). Annual growth in GEL-denominated loans made up 52% (197 million in 2017 and 131 million GEL in 2016). Currency portfolio has declined by 7% (809 million in 2017 and 872 million in 2016). Revenues from loans have also declined. …

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VTB Bank Profits Grow by 14%

VTB Bank Georgia

The Commersant continues publishing reports of financial institutions. According to the fourth quarter indicators, VTB Bank’s profits grew by 14% to 20 million GEL. In 2016 the bank’s profits constituted 18 million GEL. In 2017 VTB Bank reserved 10 million GEL. Throughout the year the Bank’s assets rose to 1.56 …

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Liberty Bank’s Profit Increased by 48% Within One Year

“Commersant” continues to analyze financial statements of financial institutions. This time, they shared statistical data of the fourth quarter of Liberty Bank. In particular, the profit of the bank increased by 48% and amounted to 52 million GEL. In 2016 the bank’s profit was 35 million GEL. In 2017, Liberty …

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Overdue Loans Amounts Grows by 73.3 million GEL

Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

The amount of overdue loans rose by 73.3 million GEL in December 2017 and totaled 394.5 million GEL. The ratio of overdue loans in the crediting portfolio of commercial banks made up 1.8%. According to the National Bank of Georgia (NBG), 44.4% of overdue loans are denominated in GEL. In …

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Pasha Bank Georgia Appoints New CEO Arda Yusuf Arkun

Arda Yusuf Arkun

PASHA Bank Georgia is pleased to announce the appointment of Mr. Arda Yusuf Arkun as CEO and Chairman of the Board of Directors as of February 1st, 2018. Mr. Arkun graduated from Hamilton College, New York in 1998 with a double major in Economics and Mathematics. Upon graduation he joined …

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Bank of Georgia Expects 5.5% Upturn in 2018

Kakha Kiknavelidze: Bank of Georgia Has a Great Development Plan

In January 2018 GEL exchange rate has considerably strengthened. Bank of Georgia director general Kakha Kiknavelidze told BM.GE that the bank has positive expectations in relation to GEL exchange rate. Based on forecasts by analysts, economic growth in 2018 will be 5.5%. “Georgia’s macroeconomic situation is absolutely healthy and we …

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Current Condition of Commercial Banks Loan Portfolio

Commercial Banks Earn 114.9mln GEL from Currency Exchange Operations in 1H17

The volume of lending by commercial banks (including loans to non-residents; excluding Credo Bank) in December 2017 increased by 133.7 million GEL or by 0.6 percent compared to the previous month (exchange rate effect excluded volume of lending increased by 3.5 percent) and constituted 21.7 billion GEL by January 1, …

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