Net profit of TBC Bank reached GEL 97.5 million

TBC Bank is the largest banking group in Georgia, where 99.7% of its business is concentrated, and it accounts for 35.3% market share by total assets. TBC Bank offers retail, corporate, and MSME banking nationwide. consolidated net profit for the first quarter 2018 reached GEL 97.5 million, while our return on equity was 21.0% and return on assets stood at 3.2%. According to bank, robust profitability was supported by an improved net interest margin, which increased by 0.3 percentage point year-on-year to 6.9% and a strong increase in net fee and commission income, which grew by 31.9% year-on-year. The improvement in net interest margin is mainly related to an increase in loan yields. In the first quarter 2018, loan book expanded by 18.4% year-on-year, while deposits increased by 25.4% year-on-year.