07.Sep .2020 15:45

Georgian Banks Have a Loss – Rating of H1, 2020

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The commercial bank operating in Georgia received a total loss of GEL 486 million in the first quarter of 2020. It becomes known from the financial report submitted by the banks to the NBG. The main determinant of the loss was the reservation of possible loss of 1.2 billion GEL by banks. In total, Georgian commercial banks have reserved GEL 1.22 billion in the "possible losses on assets" buffer, which reflects the amount of possible losses on loans due to the expected crisis.

According to the financial report, the Bank of Georgia has the largest net loss in the first half of 2020, amounting to GEL 157.2 million. TBC Bank is in the second place with a loss of 156.4 million GEL. The financial results show that 14 out of 15 commercial banks are at a loss. The only bank that ended the first 6 months of 2020 with a profit instead of a loss was Silk Road Bank.

Rating of banks by net profit/loss:

1.Bank of Georgia – loss of 157.2 million Gel
2.TBC Bank – loss of 156.4 million Gel
3.Bank Cartu – loss of 26.9 million Gel
4.VTB Bank – loss of 26.1 million Gel
5.Liberty Bank – loss of 20.4 million Gel
6.Terabank – loss of 19.6 million Gel
7.Halyk Bank – loss of 19.2 million Gel
8.Pasha Bank – Loss of 16.7mln Gel
9.Basis Bank – 12.9 million Gel
10.Procredit Bank – 11.6 million Gel
11.Credo Bank – loss of 4.7 million Gel
12.Finca Bank – loss of 3.3 million Gel
13.Ish Bank – loss of 1.7 million GEL
14.Ziraat Bank – loss of 0.2 million Gel.
15.SilkRoad Bank – profit of 0.25 million Gel.