Commercial banks net profit down 90% in 2020
In March 2020, commercial banks suffered a loss of 943.13 million GEL. Photo: Nino Alavidze/Agenda.ge.
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The net profit of Georgian commercial banks amounted to 99.26 mln GEL in 2020 which is 89.6 per cent decrease compared to last year when net profit amounted to 953.63 million GEL, show data from the National Bank of Georgia.
In March 2020, commercial banks suffered a loss of 943.13 million GEL.
In the following months, banks suffered no loss.
As for December 2020, net profit amounted to 100.73 million GEL which is 16.24 million GEL more compared to November 2020 and 31.28 million GEL less compared to December of last year.
There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
About 26.47 billion GEL ($9.47 bln/€8.74 bln) was deposited in Georgian banks in January 2020, making for a 0.83 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
About 32.28 billion GEL was deposited in Georgian banks in October 2020, making for a 1.71 per cent month-on-month decrease, show the latest data by the National Bank of Georgia (NBG).
About 32.84 billion GEL was deposited in Georgian banks in September 2020, making for a 6.19 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG). In the same time period, Georgian banks lent 36.38 billion GEL, which was 5.49 per cent increase compared to the previous month.
About 30.93 billion GEL was deposited in Georgian banks in August 2020, making for a 1.29 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
Commercial banks in Georgia lent 38.2 billion GEL and received deposits of 34.6 billion GEL in January 2021, show the latest data by the National Bank of Georgia (NBG).
Commercial banks in Georgia lent 38.43 billion GEL and received deposits of 36.02 billion GEL in February 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 3.28% month-on-month, while loans also increased by 0.68%.
There were 193 pawn shops (without branches) operating last year in Georgia of which 46.1% were located in the capital city of Tbilisi, says the National Statistics Office of Georgia (Geostat). The volume of cash assets in pawnshops at the end of 2020 equalled 14.3 million GEL, of which 83.6% was in national currency and 16.4% in foreign currency.
Commercial banks in Georgia lent 37.94 billion GEL and received deposits of 36.03 billion GEL in March 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 0.03% month-on-month, while loans decreased by 1.27%.
Commercial banks in Georgia lent 39.53 billion GEL and received deposits of 35.41 billion GEL in May 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits decreased by 0.59% month-on-month, while loans decreased by 1.54%.