Georgian Banks Report ₾2.85 Billion Net Profit in First 11 Months of 2024

Commercial banks operating in Georgia achieved a combined net profit of ₾2.85 billion during the first 11 months of 2024, reflecting an increase of ₾321 million compared to the same period in 2023, according to data submitted to the National Bank of Georgia.

The Bank of Georgia led the sector with a remarkable net profit exceeding ₾1.4 billion during the reporting period. TBC Bank followed with ₾1.08 billion, while Liberty Bank ranked third, earning ₾102 million.

Despite the sector's overall profitability, four banks reported losses. Silk Bank faced the largest deficit at ₾11 million, followed by Hash Bank with a loss of ₾4.4 million. Smaller losses were recorded by Pacera Bank and Payvbank.

Full Breakdown of Bank Performance (in thousands of GEL)

1. Bank of Georgia: ₾1,399,408
2. TBC Bank: ₾1,078,546
3. Liberty Bank: ₾102,129
4. Bazis Bank: ₾71,743
5. Credo Bank: ₾58,226
6. Cartu Bank: ₾42,290
7. ProCredit Bank: ₾30,191
8. Tera Bank: ₾29,473
9. Halyk Bank: ₾18,315
10. Pashabank: ₾7,527
11. Ish Bank: ₾12,747
12. VTB Bank: ₾11,264
13. Ziraat Bank: ₾5,448
14. Silk Bank: ₾-11,189
15. Hashbank: ₾-4,353