National Bank of Georgia: Banks’ profits up GEL 136,495 million annually

21/09/2021

15:10

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As the National Bank reports, in August 2021 the income of commercial banks amounted to GEL 529.715 million of which interest income made GEL 411.449 million.

Expenditures of commercial banks in August amounted to GEL 270.723 million.

Revenues from fines and penalties amounted to GEL 6,862 million; net profit from conversion operations, i.e. currency transactions, amounted to GEL 27,791 million. At the same time, in the previous month, banks received GEL 37,218 million from fees and commissions.

To be informed, last year the net profit of commercial banks amounted to GEL 99,262 that was the record low in recent years caused by the pandemic in the first month when banks had to defer loans.

Thus, in March 2020 banks suffered a loss of $ 943,130 million and since then commercial banks have not suffered losses.

As of August, 15 commercial banks were operating in the market.

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