Commercial Banks Record Losses of 943,130 million GEL
Georgia-based commercial banks are bearing losses. In March 2020, the banking sector’s losses amounted to 943,130 million GEL.
According to the National Bank of Georgia (NBG), the banking sector’s incomes in March marked 405,960 million GEL, while the expenditures totaled 1,485,337 thousand GEL.
Furthermore, the sector’s incomes from fines constituted 3,620 million GEL; net profits from forex transactions made up 43,956 million GEL; the sector’s incomes from commission fees and services constituted 20,383 million GEL.
It should be noted tat in 2019 the sector’s net profits amounted to 953,635 million GEL.