Net profit of 15 commercial banks of Georgia amounted to 80.29 million lari ($25.1 million) in April, up by 16.10 million lari ($5.04 million) YoY, the National Bank of Georgia (NBG) reported.
Revenues received by commercial banks from fines / penalties amounted to 308,000 lari ($96,515); the net profit / loss from conversion operations, i.e. currency transactions, amounted to 113.26 million lari ($35.4 million).
The banks received 11.58 million ($3.6 million) from commissions and services. According to National Bank, banks paid 21.03 million lari ($6.5 million) in profit tax as of end 2019.
In April, banks’ revenues amounted to 352.42 million lari ($110.4 million), of which interest income was 304.13 million lari ($95.3 million), and bank expenditures amounted to 266.70 million lari ($83.5 million).
In March, the net loss of 15 commercial banks totaled 943 million lari ($295.4 million), and the operating profit of the first quarter amounted to 386 million lari ($120.9 million). (Trend/Business World Magazine)