The banks operating in Georgia have already submitted their 2023 financial report to the National Bank of Georgia. According to the document, last year the total profit of 17 banks amounted to GEL 2.7 billion, which was GEL 623 million or 30% more compared to 2022.
Commercial Banks' Profit:
Income from loans - 6 billion GEL;
Commission income - 672 million GEL;
Profit from currency exchange operations - 667 million GEL;
Interest income from securities - 751 million GEL;
Interest income from fines - 109 million GEL;
Interest income according to the funds placed - 257 million GEL;
Total - 8.5 billion GEL.
As for the costs of commercial banks, according to statistics, one of the biggest costs for banks is the accrual of interest on deposits of citizens and commercial organizations. During 2023, banks have accrued interest on accounts of GEL 2.1 billion.
More than half of this amount - GEL 1.1 billion is "maintenance costs", which include salaries of bank employees as well as branch maintenance costs.
