Page 43 - GEORptApr21

Ziraat Bank Georgia
Silk Road Bank
Finca Bank Georgia
Khalik Bank Georgia
Terrabank
VTB Bank Georgia
Liberty Bank
Pasha Bank Georgia
Cartu Bank
Total
Source: Business Media
1,408,108
-1,182,511
-2,887,850
-12,894,496
-13,830,949
-14,776,340
-15,173,231
-23,193,879
-24,751,630
99,261,849
128,766,277
79,660,640
283,236,646
635,233,527
1,263,721,338
2,047,322,037
2,981,966,362
469,857,867
1,406,277,389
56,870,926,137
0.4
-0.4
-0.9
-3.9
-4.2
-4.5
-4.6
-7.0
-7.5
30
39
24
86
192
383
620
904
142
426
17,234
1.09%
-1.48%
-1.02%
-2.03%
-1.09%
-0.72%
-0.51%
-4.94%
-1.76%
0.17%
8.1.2 Loans
ADB approves $200mn policy-based loan for Georgia
Major Georgian banks take 3.0-3.3% of loan book provisions for coming losses
The Asian Development Bank (ADB) on October 29 approved a $200mn policy-based loan to help restore parts of Georgia's economy impacted by the coronavirus (COVID-19) crisis by addressing challenges in the country's public finance management and social security systems.
The Fiscal Sustainability and Social Security Assistance Program is part of ADB's comprehensive and integrated assistance package to address damage caused by the pandemic to healthcare, social protection and the economy in Georgia.
"The steps taken by this program are critically important to mitigate the economic impact of Covid-19 and maintain macroeconomic stability over the medium to long term and also to protect the lives of the people most affected by the crisis," said ADB representative Rogerio de Almeida Vieira de Sa. "The program will help older citizens who are particularly vulnerable to the consequences of Covid-19."
In May this year, the ADB approved a $100mn loan to support the government’s anti-crisis measures, including tax deferments for small and medium sized businesses, temporary payments for pandemic-affected workers, and free access to COVID-19 diagnostic and treatment services.
Georgia’s major banks, the LSE-listed Bank of Georgia and TBC, have announced that they have both taken provisions in the amount of 3.0-3.3% of their loan books, in agreement with the National Bank of Georgia (NBG) and on the banks’ local accounting basis, used for the calculation of the banks' capital ratios.
The size of the provisions indicate anticipated losses incurred in the whole economic cycle prompted by effects of the coronavirus (COVID-19) pandemic.
The provisions will affect the CET1capital adequacy ratios, which, however, remain above or close to the 7.0% revised estimated minimum requirement
43 GEORGIA Country Report April 2021 www.intellinews.com