Finance

How Much Was The Revenue of Enterprises Engaged In Financial Services?

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Tbilisi (GBC) - In 2023, revenue of enterprises engaged in financial services amounted to GEL 10.5 billion, - according to the National Statistics Office of Georgia (Geostat).

As of the document, the largest part of the revenue (75.7 %) was generated from interest and other similar incomes, while revenue from commission fees reached 12.4% of the total, and the remaining 11.9% were other revenues.

At the end of 2023, cash held by enterprises engaged in financial services amounted to 2.9 billion GEL. At the same time, fixed and non-produced assets balance sheet value reached 2.7 billion GEL.

In 2023, average number of employees of enterprises engaged in financial services equaled 41.9 thousand, of which 64.0 percent were females.

In 2023 insurance companies earned premium of 971.9 million GEL, of which 41.5 percent was attributable to medical (health) insurance, 12.5 percent – to property insurance, 9.0 percent – to life insurance, 7.4 percent – to motor third party liability, 1.4 percent – to accident insurance, and the rest (28.2 percent) was allocated to other types of insurance.

In 2023, incurred claims incurred by insurance companies amounted to 645.9 million GEL, of which 49.5 percent was assigned to medical (health) insurance, 7.3 percent – to property insurance, 5.0 percent – to life insurance, 4.4 percent – to motor third party liability, 0.1 percent – to accident insurance, and the rest (33.7 percent) was allocated to other types of insurance.

სიახლეები ამავე კატეგორიიდან

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Lending to large businesses decreased by 35%

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Money transfers from abroad down by 1%

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The Average Median Earnings Of Employees In Georgia Up By 19%

According to the document, in 2023, the median earnings is 29.9% lower than the average monthly earnings.According to the economic activity in 2023, the highest median earnings were observed in thefollowing fields:• Information and communication - 1 960 Gel;• Public administration and defence; compulsory social security - 1 878 Gel;• Construction - 1 810 Gel;• Mining and quarrying - 1 705 Gel;• Financial and insurance activities - 1 696 Gel.According to 2023 data, the median earnings are lower than the average monthly earnings in all sectors.

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The NBG has tightened foreign currency lending

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