Bank of Georgia boosts assets by 16% in Jan-Sept
TBILISI. Nov 1 (Interfax) - Bank of Georgia, the country's leading commercial bank, increased its assets by 462.5 million lari (1.778 lari/$1 on November 1, 2010), or 15.9%, in January-September 2010 to 3.376 billion lari, the bank said in a financial report.
The bank saw its assets increased by 4.4% in the third quarter, and annually (from the end of September 2009 to the end of September 2010) - by 27.5%
The bank's loan portfolio went up by 8.9% to 1.992 billion lari in the nine months. Reserves for possible loan losses went up by 29.9% to 216.3 million lari (10.9% of the loan portfolio).
The bank's obligations increased by 17.1% to 2.71 billion lari, including its deposit base, up 14.8% to 1.46 billion lari.
The bank's charter capital increased by 17.1% to 665.8 million lari in the nine months.
The bank's net profit in the nine months came to 93.3 million lari compared to 9.9 million lari in net losses for the same period of 2009.
Bank of Georgia shareholders include Bank of New York (Nominees) Limited (89.62%), East Capital Financial Institutions II AB - 4.36% and Bryum Limited - 1.06%.