Page 31 - GEORptFeb20

Gagua said that there was an exaggerated reaction on the market, possibly due to low confidence in the lari caused by social or political events. Tbilisi has been roiled in the past couple of weeks by demonstrations against the ruling Georgian Dream party which has refused to adopt a proportional voting system in time for the 2020 general election. In Gagua’s estimation, the underlying factors—GDP and the current account deficit—could not be the cause of the depreciation as they were stable.
“Although FDI is down, it is higher than the current account deficit. This is an important positive factor and therefore we cannot talk about negative factors in the fundamental parameters,” he said.
8.0​ Financial & capital markets
Georgia - Commercial banks lead Jan-Dec 2018 2017 2016 indicators (end of period) 2019
Interest income (GEL mn)
339.9 296.86 275.70 227.44
Net profit / loss (GEL mn)
953.64 914.72 869.80 679.11
Bank assets (GEL mn)
47,183.37 39,682.98 34,593.50 30,149.32
Bank deposits (GEL mn)
21,364.22 18,273.92 15,717.54 13,662.0
Bank loans (GEL mn)
31,078.64 25,918.14 21,761.90 18,512.30
ROA (%)
2.5% 3.0% 3.1% 3.1%
ROE (%)
20.3% 23.3% 23.3% 22.1%
CAR (%)
19.0% 18.4% 19.1% 15.1%
NPL to total gross loans (%)
2.6% 2.6% 2.8% 3.4%
Source: National Bank of Georgia
31​ GEORGIA Country Report​ February 2020 ​ ​www.intellinews.com