Banking

Commercial Banks Profit Grow By 150%

Commercial Banks Profit Grow By 150% December 14, 2017Leave a comment
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Georgian commercial banks are world leaders with regard to profitability.

According to National Bank of Georgia (NBG), in January-March 2017 profits of economic banks constituted 257 785 000 GEL, up 148 million GEL in comparison to the same amount of 2016 (109 889 000 GEL in January-March 2016).

This signifies profits of business banks rose 1.Five times (+150% every year). The banking sector\’s profits in March increased by 32 million GEL? as compared to February 2017. Currently, you will find 17 commercial banks in Georgia, however, amalgamation of TBC Bank and Bank Republic will be carried out in the longer term.

As of April 1, revenues of business banks marked 1.071 billion GEL, up 514 million GEL in comparison to February, or higher 300 million GEL than the same amount 2016. Interest returns of economic banks also grow in stable way as well as the amount currently totals 647 million GEL. It ought to stressed that commercial banks receive major revenues from retail loans

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