Commercial banks net profit down 90% in 2020

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.