BAKU, Azerbaijan, Nov. 24
By Tamilla Mammadova – Trend
Georgian commercial banks suffered a total loss of 86 million lari ($26.08 million) from January through October 2020, Trend reports via the National Bank of Georgia (NBG).
In October, the net profit amounted to 166 million lari ($50.3 million).
As reported, the operating indicators of financial institutions improved in October: revenues reached 442 million lari ($134.04 million), which means an increase of 10 percent per year.
"If banks maintain similar operating indicators by the end of the year, it is quite possible that the financial sector will end 2020 with a net profit of more than 100 million lari ($30.3 million), despite the crisis," the bank said.
In total, Georgian commercial banks have reserved 1.22 billion lari ($369.9 million).
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