The banks operating in Georgia have submitted their financial results for the first four months of 2022 to the National Bank of Georgia. According to the reports, the total revenue of the sector during this period was GEL 2.18 billion, which is 20% more than the earnings received in the previous year.
The banks' income is divided into two main parts - interest income and non-interest income. Interest on loans amounted to GEL 1.74 billion in January-April, with an increase of 18% year on year. Non-interest income amounted to GEL 443 million, which is 25% more than the earnings received in the previous year. Out of these, the commissions amounted to GEL 163 million, the net profit of the currency exchange service was GEL 160 million, and the fines imposed included GEL 27 million.
The expenses of the banks amounted to GEL 1.55 billion, out of which the largest amount was GEL 850 million of interest expenses. These costs are divided into two parts, namely the amount of interest accrued to depositors was GEL 460 million, and the service charges for other liabilities taken by the banks was GEL 290 million.
As for the amount of non-interest expenses, it was GEL 604 million, including GEL 290 million paid to employees.
In total, the banks' profits amounted to GEL 627 million, out of which the banks paid a profit tax of GEL 104 million, leaving them with a net profit of GEL 522.8 million.
These profits are distributed according to the leading banks as follows:
TBC Bank - GEL 279.4 million
The Bank of Georgia - GEL 210.3 million
Basis Bank - GEL 21.7 million
Liberty Bank - GEL 12.7 million
Credo Bank - GEL 6.9 million.
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