According to financial statements for the third quarter of 2023, VTB Georgia Bank sanctioned by the US Treasury earned GEL 940,508 in net profit in 9 months.
VTB has sold most of its assets but still has a certain portfolio of deposits and loans from which the bank receives income.
Before the sanctions were introduced, the bank’s assets had amounted to GEL 2.1 billion, its deposit portfolio had made GEL 1.55 billion. Currently, the bank's assets amount to GEL 389.8 million, the loan portfolio stood at GEL 197 million, the deposit portfolio – at GEL 12.6 million.
According to the financial report, in 9 months the bank earned GEL 10 million in income from interest on loans, income from securities amounted to GEL 0.7 million.
At the same time, the bank received income in the amount of GEL 28.8 million from the revaluation of foreign currency funds, the total non-interest income reached GEL 14.8 million.
The Russian VTB bank holds 97%, the final beneficiary (60%) is the government of the Russian Federation.
