Page 42 - GEORptAug21

8.0 Financial & capital markets
Georgia - Commercial banks lead Jun 2021 2020 2019 2018 2017 2016 indicators (end of period)
Interest income (GEL mn)
384.79 381.66 339.90 296.86 275.70 227.44
Net profit / loss (GEL mn)
295.63 100.73 132.02 119.10 152.56 112.52
Bank assets (GEL mn)
55,980.68 56,870.98 47,183.37 39,682.98 34,593.50 30,149.32
Bank deposits (GEL mn)
26,704.69 26,647.00 21,135.84 17,907.06 15,514.39 13,514.88
Bank loans (GEL mn)
38,398.41 37,374.29 31,078.64 25,918.14 21,761.90 18,512.30
ROA (%)
4.0% -2.5% 2.5% 3.0% 3.1% 3.1%
ROE (%)
37.3% -20% 20.3% 23.3% 23.3% 22.1%
CAR (%)
19.2% 17.6% 19.0% 18.4% 19.1% 15.1%
NPL to total gross loans (%)
6.7% 8.2% 4.4% 5.5% 5.9% 7.3%
Source: National Bank of Georgia
8.1 Bank sector overview 8.1.1 Earnings
Georgia’s banks boast biggest profits ever in June
The aggregated net profit of Georgia's banks more than doubled in June compared to the same month last year, to Georgian lari (GEL) 295mn ($92mn) - it amounted to the biggest profit ever recorded by the banks in the country’s history.
In the second quarter of the year, the profit was GEL648mn (over $200mn), 140% up y/y, and in the ytd period of January-June the aggregated profits exceeded GEL1bn (over $300mn) - compared to GEL477bn losses in the first half of last year when the Georgian banks set aside GEL1.2bn in provisions for potential asset losses as a result of the crisis that was emerging.
42 GEORGIA Country Report August 2021 www.intellinews.com