StockMarketWire.com - TBC Bank, Georgia's largest banking group, has reported an 18.8% increase in net profit for the half year to 30 June.

The FTSE 250 listed bank posted 258.3m Georgian Lari, which works out at approximately £71.3m, versus 217.4m Georgian Lari this time last year, despite slower second quarter growth versus the first three months.

Underlying return on equity without one-offs came in at 22.7% while TBC also reported an underlying cost to income ratio of 37.9%.

TBC saw both its chairman and deputy chairman both leave the company due to allegations levelled against the pair about historic transactions that took place in 2007 and 2008.


At 8:01am: [LON:TBCG] TBC Bank Group Plc share price was +16p at 1258p



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