Daily News May 24, 2023	Days:  22 23 24 25 29

economics

AS OF MARCH, GEORGIAN BANKS’ TOTAL CREDITS INCREASED BY 13.8% Y-O-Y

National Bank of Georgia reported that credits, issued by Georgian banks as of March 31, totaled to 44.9 billion lari, increasing by 13.8% year-on-year (without consideration of the exchange rate effect).

Taking the exchange rate effect into account, the credits increased by 3.6%, while the real growth (i.e. with additional envisaging of inflation) made up negative 1.7%.




AS OF MARCH, TOTAL DEPOSITS IN GEORGIAN BANKS INCREASED BY 30.2% Y-O-Y

National Bank of Georgia reported that deposits, placed in Georgian banks as of March 31, totaled to 43.3 billion lari, increasing by 30.2% year-on-year (without consideration of the exchange rate effect).

Taking the exchange rate effect into account, the deposits increased by 17%, while the real growth (i.e. with additional envisaging of inflation) made up 11.6%.




IN Q1, GEORGIAN BANKS WROTE OFF LOANS OF 136.5M LARI

National Bank of Georgia reported that in the 1^st quarter, banking sector of the country wrote off loans of 136.5 million lari. In particular, in January, loans of 49.3 million lari were written off, in February – 33.5 million lari, in March – 53.7 million lari.




AS OF MARCH, RETURN RATIOS OF GEORGIAN BANKS DECREASED, WHILE MARGIN INCREASED

National Bank of Georgia reported that as of March, average return on assets (ROA) of Georgian commercial banks made up 3.4%, while return on equity (ROE) – 25.5%. A year ago (i.e. as of March 2022), average ROA made up 3.5%, while ROE – 28.4%.

business

IN Q1, NET PROFIT OF “TBC BANK” INCREASED BY 3.7% Y-O-Y

TBC Bank reported net profit of 237.73 million lari for the 1^st quarter. If compared with the same period of 2022, the volume has increased by 3.7%.




IN Q1, NET PROFIT OF “SAKARTVELOS BANKI” INCREASED BY 35% Y-O-Y

Sakartvelos Banki (Bank of Georgia) reported net profit of 282 million lari for the 1^st quarter. If compared with the same period of 2022, the volume has increased by 35%.




IN 2022, 3 COMPANIES ACCOUNTED FOR 65.6% OF TOTAL LIABILITIES’ FULFILLMENT INSURANCE PREMIUM IN GEORGIA

Georgian State Service for Insurance Supervision reported that in 2022, the premium attracted in insurance of liabilities’ fulfillment (bank guarantees) totaled to 12.06 million lari. In total volume, 3 companies accounted for 65.6%, or 7.9 million lari.




IN 2022, CONTRIBUTIONS TO NON-STATE PENSION SCHEMES IN GEORGIA INCREASED BY 13.6%

Georgian State Service for Insurance Supervision reported that in 2022, contributions to the country’s non-state pension schemes totaled to 6.06 million lari. If compared with 2021, the volume has increased by 13.6%.