Georgian banks post losses in Q2

Georgian banks post losses in Q2

access_time2020-08-06 15:20:33

The National Bank has published the financial indicators of commercial banks for the 2nd quarter of 2020.

According to reports, the banking sector, which was considered a profitable sector, suffered a loss in Q2 as well as in the Q1 due to the COVID-19 outbreak.

 

According to reports, two large banks - TBC Bank and Bank of Georgia – saw losses in the second quarter of 2020. In particular, the loss of TBC amounted to GEL 156 415 387 in the reporting period; net profit before provisioning amounted to GEL 292,056,328. Bank of Georgia had a loss of GEL 157 163 992 in the second quarter; earnings  before provisioning  amounted to GEL 231 705 253.

The financial performance of other banks is as follows:

• "Basisbank" - -12 888 958;

• Silk Road Bank - 253,512;

• Credo Bank - -4 727 835;


• Cartu Bank - -26,932,273;

• FINCA Bank Georgia - -3,348,949;

• Halyk Bank - -19,175,561;

• Isbank Georgia - 1,718,891;

• Terra Bank - -19,550,904;

 • Liberty Bank - -20,356,921;

• Pasha Bank Georgia - -16,661,754;

• ProCredit Bank - -11,639,920;

• VTB Bank - -26,095,611;

• "Ziraat Bank Georgia" - -211,721.

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