Tbilisi (GBC) - Inflation prevention the NBG regulations have hit banks so hard that the profit of the sector is no longer growing. The annual growth is 0.7%.
Last year, over 10 months, 1 bank had at a loss. Sanctioned VTB was positioned among TOP-4 profitable banks. As of November 1, this year, the loss of the subsidiary of the Russian bank exceeds 70 million GEL.
As of November 1 (01.11.2022), 11 banks have a profit, with a total volume of GEL 1.85 billion and 93.9% is the share of 5 banks.
Profitable Banks
|
Loans (GEL) |
Share % |
|
Bank of Georgia |
7.37 bln |
0.7% |
|
TBC Bank |
6.8 bln |
0.66% |
|
|
|
||
Liberty Bank |
1.2 bln |
3.8% |
|
Basis Bank |
0.76 bln |
0.8% |
|
Credo Bank |
1.1 bln |
5.9% |
|
Source: NBG (Q3/2022) |
|