Banking
Posted:
5 years ago
Banking Sector Profits in August Rose by 125% Year on Year
In August 2019 net profits of commercial banks made up 110.106 million GEL, up 27.434 million GEL month on month and up 61.178 million GEL year on year (+125%).
Namely, according to the National Bank’s statistics, in August 2018 net profits of commercial banks was 48.928 million GEL, in July 2019 – 82.672 million GEL.
At the same time, in August 2019, incomes of commercial banks made up 383.690 million GEL, whilst expenditures totaled 262.597 million GEL. Incomes from fines in August 2019 made up 5.721 million GEL. Currency exchange operations earned 46.929 million GEL net profits and incomes form commission frees amounted to 32.235 million GEL.
According to the NBG indicators, in August commercial banks paid profits tax of 10.948 million GEL.
In 2018 net profits of commercial banks made up 914.718 million GEL.