All commercial banks operating in Georgia already submitted financial results for 2020 to the NBG.
According to the report, the total assets of Georgian banks increased by 22% y-o-y despite the economic crisis and amounted to 54 billion GEL.
However, the sector’s total profit is 8 times down. The sector’s profit made up 99 million GEL in 2020, while all fifteen commercial banks had a total profit of 853 million GEL in 2019. Moreover, 8 banks had a loss. Cartu Bank had the highest loss of 24.7 million. TBC Bank had the largest net profit of 123 million.
However, the main determinant of the existing losses is an accumulation of 1.2 billion GEL in the expected credit loss reserve. In total, Georgian commercial banks have reserved GEL 1.22 billion in the “Possible Assets Loss” buffer, which reflects the amount of possible loan losses due to the expected crisis.
Rating of Georgian banks by profit/loss
1) TBC Bank – net profit of 123,180,649 GEL, asset volume – 21,727,528,822 GEL;
2) Bank of Georgia – net profit of GEL 57,108,880, asset volume – 20,221,951,741 GEL;
3) Credo Bank – net profit of 13,950,614 GEL, asset volume – 1,395,024,280 GEL;
4) Basisbank – net profit of 5,972,349 GEL, asset volume – 2,006,267,655 GEL;
5) ProCredit Bank – net profit of 3,534,386 GEL, asset volume – 1,896,793,723 GEL;
6) Ish Bank Georgia – net profit of 2,797,749 GEL, asset volume – 327,317,833 GEL;
7) Ziraat Bank Georgia – net profit of 1,408,108 GEL, asset volume – 128,766,277 GEL;
8) Silk Road Bank – loss of -1,182,511 GEL, asset volume – 79,660,640 GEL;
9) Finca Bank Georgia – -2,887,850 GEL loss, asset volume – 283,236,646 GEL;
10) Halyk Bank Georgia – loss of -12,894,496 GEL, asset volume – 635,233,527 GEL;
11) Terabank – -13,830,949 GEL loss, asset volume – 1,263,721,338 GEL;
12) VTB Bank Georgia – loss of -14,776,340 GEL, asset volume – 2,047,322,037 GEL;
13) Liberty Bank – loss of -15,173,231 GEL, asset volume – 2,981,966,362 GEL;
14) Pasha Bank Georgia – loss of -23,193,879 GEL, asset volume – 469,857,867 GEL;
15) Cartu Bank – loss of -24,751,630 GEL, asset volume – 1,406,277,389 GEL.
