March 20, 2012 / 2:42 PM / 6 years ago

Bank of Georgia raises 2011 net profit 72 pct

TBILISI, March 20 (Reuters) - The Bank of Georgia,
the country's largest lender, said on Tuesday its 2011 net
profit rose 72 percent year-on-year to $81.3 million thanks to
increasing deposits and a fall in bad loan provisions on the
back of a wider economic recovery.	
    The bank's results come after it successfully completed
premium listing on the London Stock Exchange (LSE) in February
with the launch of trading in 36 million shares.	
    Georgia's economy, hit by the global crisis and the war with
Russia in 2008, has been recovering since 2010, underpinned by
increasing lending activity in the private sector and higher
demand for its exports.	
    The Bank of Georgia released the following consolidated
results in the statement (in billion of dollars):	
                                 2011      2010	
 Total assets                   2.794      2.259	
 Total client deposits          1.529      1.131	
 Total liabilities              2.307      1.868	
 Total loans to clients         1.567      1.335	
 Total shareholders' equity     0.487      0.391	
 Net operating income           0.121      0.056	
 Net interest income            0.143      0.118	
 Net profit                     0.081      0.047

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below