Georgian Banks’ Net Profit GEL 192.2m in Jan-July

The Georgian banking sector’s net profit jumped 86.6% year-on-year to GEL 192.26 million (about USD 115.7 million) in the first seven months of this year, according to figures released by the central bank.

Net profit of the sector in July, 2013 almost doubled over the previous month to GEL 39.3 million; the figure stood at GEL 14.2 million in July, 2012 (nineteen commercial banks operated in Georgia at the time, now there are twenty).
 
The total banking loans stood at GEL 9.237 billion as of August 1, 2013 down from GEL 9.27 billion a month earlier and up from GEL 8.55 billion a year earlier.

Non-performing loans amounted GEL 243.9 million as of August 1, which accounts for 2.6% of total banking sector’s loans, compared with 2.3% a year earlier.

Twenty commercial banks operate in Georgia whose total assets stood at GEL 15.1 billion as of August 1, 2013, 0.9% month-on-month and 7% y/y increase.

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