According to financial statements for the fourth quarter of 2023, VTB Georgia Bank sanctioned by the US Treasury, earned GEL 38,385 in net profit in 12 months.
Even though VTB has sold most of its assets and liabilities, it still holds portfolio of deposits and loans from which the bank generates income.
Before the introduction of sanctions, the bank's assets amounted to GEL2.1 billion, the loan portfolio — GEL1.55 billion, the deposit portfolio - GEL1.56 billion. Currently, the bank's assets stood at GEL 455 million, loan portfolio - GEL 196.5 million, deposit portfolio - GEL 17 million.
According to the financial report, the bank's interest income amounted to GEL21.8 million, expenses - more than GEL10 million. Administrative expenses amounted to more than GEL11.2 million, of which GEL9.8 million from which 9.8 million GEL was paid to the staff for work.
According to the financial report, 97% of the bank is owned by the Russian VTB Bank, the ultimate beneficial owner (60%) is the State of the Russian Federation.
