Commercial Banks

Most Profitable Banks in Georgia

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Photo: Reuters

The National Bank of Georgia published financial indices of commercial banks for the third quarter of 2017.

According to the financial reports submitted by banks, the Bank of Georgia earned the most profit in the given period, showing a net profit of 286 million Georgian Lari (GEL) in the first quarter of 2017. That is 90% more net profit than last year. TBC Bank had the second biggest gain; its profit amounted to 213.5 million GEL, which is 16.1% higher than the previous year. The Bank Republic fully merged with TBC Bank in May 2017, leading to the expansion of the bank and increase in revenues. Liberty Bank is in third place in terms of net profits, however, its revenues is less than the banks listed on the London Stock Exchange. The bank generated 34.5 million GEL in profits, which is 58% higher than the last year.

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