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Bank of Georgia became the largest bank in Georgia based on its market share of total assets

5b053053866f0
BM.GE
22.05.18 19:03
5510
Bank of Georgia became the largest bank in Georgia based on its 36.2% market share of total assets at 31 March 2018, according to the data published by National Bank of Georgia . Asset quality continued to improve during 1Q18. NPLs to gross loans ratio decreased to 3.1% at 31 March 2018 (4.6% at 31 March 2017 and 3.8% at 31 December 2017). NPL coverage ratio stood at 111.4% at 31 March 2018 (102.9% at 31 December 2017 adjusted for IFRS 9 impact), while the NPL coverage ratio adjusted for discounted value of collateral stood at 147.2% at 31 March 2018 (126.9% at 31 March 2017 and 130.6% at 31 December 2017).

The asset quality improvement positively impacted the cost of risk ratio, which stood at 2.1% in 1Q18 (2.4% in 1Q17 and 2.1% in 4Q17) The Banking Business loan book growth on a constant-currency basis reached 21.3% y-o-y and 5.0% q-o-q at 31 March 2018. Retail Banking loan book share in the total loan portfolio was 69.3% at 31 March 2018 (62.6% at 31 March 2017 and 68.0% at 31 December 2017)