Tbilisi (GBC) – The banking sector will have ROE exceeding >22% in 2024. According to market participants, the system showed high profitability for 3 years (2021/2022/2023).

Compared to 2020, the profitability of 2021 was due to the base effect. In 2022, the growth was stable and the trend was maintained in 2023.

However, as of 01.02.2024, it is already decreasing. The sector's return on equity (ROE) is 23%, which is 3pp below the benchmark.

As of 01.02.2024, the sector's return on equity (ROE) is 25.1%.

Out of 15 banks operating in the market (reporting from newly licensed digital banks, including Paysera, not yet Hsh), the capital of 13 is profitable, including no longer sanctioned VTB, which ROE is negative >9%. The subsidiary of the Russian bank, whose capital still remains in Georgia, ended January with a loss of 2.3 million GEL. Paysera’s coefficient is also negative.

Of the 15 banks operating in the market, the capital of 12 is profitable, including sanctioned VTB. The coefficient of "Pasha Bank", "Silk Bank" and "Paysera" (digital bank) newly entered the market is negative.

​TOP-5 Banks By ROE

Bank of Georgia


TBC  Bank


Liberty Banks




ProCredit Bank