In 9 months of 2020, Bank of
Georgia suffered a loss in the amount of
GEL 77, 5 million.
the banking system’s loss
amounted to GEL 252 million that is Bank of Georgia accounts for 30.8% of the total losses.
Bank of Georgia ranks second
in the country with supervisory capital of 2.6 billion and assets worth GEL 19.3
It’s worth mentioning that
in September the the financial
performance of the banking industry improved
- if as of August 2020 the
total loss of the banking system amounted to GEL 317 billion in September this
figure decreased to GEL 252 million.
Along with other factors such
as the 3-month general moratorium on the payment of interest on loans, which
was introduced in March due to the
lockdown, the mandatory increase in reserves for possible losses, which
amounted to GEL 1,2 billion also caused the loss of the banking system.