accounting outsourcing in ukraine

Bank of Georgia Group PLC 1Q22 Results

11 Май, 2022 | 1 комментарий | Размещено в банк, Грузия, Компании, Отчеты

Bank of Georgia Group PLC (the «Group») has published 1Q22 financial results.

1Q22 results highlights:


  • Outstanding profitability
    • The Group recorded a profit of GEL 240.6mln in 1Q22 (up 73.2% y-o-y and up 19.9% q-o-q).
    • The Group’s ROAE was 30.7% in 1Q22 (21.5% in 1Q21 and 26.4% in 4Q21).
  • Solid balance sheet growth. Our net loans to customers and finance lease receivables reached GEL 16,289.4mln at 31 March 2022, up 19.0% y-o-y and up 1.0% q-o-q, on a constant currency basis, primarily driven by strong growth in the consumer, micro and SME portfolios.
  • Robust operating income
    • The Group’s net interest income was up 27.8% y-o-y and up 0.5% q-o-q in 1Q22. Net interest margin was 5.3% in 1Q22 (up 80bps y-o-y and flat q-o-q). The y-o-y increase in NIM was primarily driven by an increase in loan yield (up 70bps y-o-y) as well as the successful deployment of some excess liquidity.
    • Net fee and commission income was GEL 58.8 million, up 20.9% y-o-y and down 8.2% q-o-q in the first quarter of 2022.
  • Cost to income ratio improved to 35.0% in 1Q22, from 35.4% in 1Q21 and from 39.8% in 4Q21.
  • Resilient loan book
    • Cost of credit risk ratio was 0.8% in 1Q22 (cost of credit risk ratio of 0.8% in 1Q21 and a net gain of 0.2% in 4Q21).
    • The NPLs to gross loans stood at 2.5% at 31 March 2022 (3.6% at 31 March 2021 and 2.4% at 31 December 2021). The NPL coverage ratio was 97.3% and the NPL coverage ratio adjusted for the discounted value of collateral was 153.0% at 31 March 2022.
  • Strong capital position
    • The Bank’s Basel III Common Equity Tier 1, Tier 1 and Total capital adequacy ratios stood at 13.7%, 15.4% and 19.7%, respectively, at 31 March 2022, all comfortably above the minimum required levels of 11.8%, 14.1% and 17.6%, respectively.
    • At the 2022 Annual General Meeting, the Board intends to recommend a final dividend for 2021 of GEL 2.33 per share payable in Pounds Sterling at the prevailing rate. This will make a total dividend paid in respect of the Group’s 2021 earnings of GEL 3.81 per share.
  • Progress in strategic areas
    • The number of monthly active users of our retail mobile and internet banking platforms reached 892,316 at 31 March 2022 (up 22.7 y-o-y and up 4.6% q-o-q), with DAU/MAU at 44.6%.
    • Product offloading to digital channels was 35.0% in 1Q22, compared with 19.3% in 1Q21 and 28.4% in 4Q21.
    • 54% of total POS payment transactions in Georgia went through Bank of Georgia’s POS terminals in 1Q22.
    • Net Promoter Score remained at a high level of 54% in 1Q22.

(c) Banknews

»Главная страница«

Оставить комментарий 533 просмотров, 1 - сегодня |
Метки: , , , , , ,
Follow Discussion

1 комментарий to “Bank of Georgia Group PLC 1Q22 Results”

  1. admin:

    JSC Bank of Georgia signs a US$50 million additional tier 1 capital perpetual subordinated syndicated facility agreement

    Bank of Georgia Group PLC (the “Group”) announces that its subsidiary, JSC Bank of Georgia (the «Bank» or “Bank of Georgia”) today signed US$ 50 million Additional Tier 1 Capital Perpetual Subordinated Syndicated Facility (the “Facility”), with the European Bank for Reconstruction and Development (“EBRD”) and Swedfund International AB (“Swedfund”) as Lenders. The Facility is callable by the Bank after 5 years from the disbursement date and on every subsequent interest payment date, subject to prior consent of the National Bank of Georgia. On closing, subject to the National Bank of Georgia’s approval, the facility is expected to be included in additional Tier 1 capital of the Bank.

    The Facility includes a green component, whereby the Bank is expected to identify and apply amounts equal to the AT1 Capital Loan into Green Economy Transition (GET)-eligible investments. EBRD will also provide a grant for a technical cooperation programme to support Bank of Georgia in its green financing initiatives.

    Archil Gachechiladze, Bank of Georgia’s Chief Executive Officer, commented: «I am delighted that our long-standing and very successful partnerships with EBRD and Swedfund have now extended to an inaugural Additional Tier 1 Capital Facility with a green component for Bank of Georgia. This syndicated facility provides the Bank with an opportunity to further diversify its capital structure from a foreign currency perspective, and the green component will enhance our existing environmental and social commitments. I would like to thank EBRD and Swedfund for their support, and hope to have further successful transactions with them in the future.»

    Francis Malige, EBRD’s Managing Director, Financial Institutions, commented: “This is EBRD’s first-ever perpetual subordinated Additional Tier I Capital Loan. I am very pleased to sign it with our longstanding partner Bank of Georgia, a bank of systemic importance. This loan will boost Bank of Georgia’s capital base, provide a natural hedge against currency fluctuations and support continuous flow of credit to Georgia’s real economy. I am also particularly happy to commend Bank of Georgia for its commitment to deploy the full amount of the loan to green investments that meet EBRD’s strict eligibility criteria for the Green Economy Transition.”

    Maria Håkansson, Swedfund’s Chief Executive Officer, commented: “It is important for us to support a leading and systemically important bank in Georgia. We look forward to continued partnership and collaboration with Bank of Georgia. This is Swedfund’s second investment in Bank of Georgia with the purpose to support financial inclusion and a sustainable green transition. Bank of Georgia has a broad customer base, a well-diversified loan portfolio and strong presence in all major sectors of the Georgian economy, as well as a proven track record of supporting SMEs. Swedfund is investing in parallel with EBRD with the purpose to facilitate the expansion of the Bank’s portfolio of green finance projects.”

Оставить комментарий