- Bank of Georgia reported a rise in profit as assets increased in the third quarter of the year, owing to an increase in client assets and bond issuances.

Profit adjusted for one-off costs totalled GEL 134.3m in the third quarter, up 20.9% on-year and up 20.8% on quarter.

Assets under management increased to GEL 2,547.6m in the third quarter, up 16.9% on-year and up 1.7% on-quarter.

Net interest income rose 3.9% to GEL 136,148,000 in the quarter.

The loan book grew 7.2% in the quarter, with retail banking loan book share in the total loan portfolio at 65.8% at 30 September 2019, down from 69.8% at 30 September 2018.

The non-performing loan to gross loans ratio decreased to 2.9% at 30 September 2019.

At 9:42am: [LON:BGEO] BGEO Group share price was +81p at 1433p

Story provided by