- Bank of Georgia said profit in the fourth quarter rose by nearly a third, led by growth across its retail banking business.

Pre-tax profit increased 32.8% to GEL172.05m in 2019 from a year earlier, and revenue increased by 1.05% year-on-year to GEL208bn.

The uptick in revenue was led by solid growth in its retail banking.

The retail banking net loan book reached GEL 7,427.7m at 31 December 2019, up 18.5% year-on-year, driven by mortgage and MSME lending, the company said.

Total assets increased 13% TO GEL 2,567.2m in the fourth quarter, up 22.3% from a year earlier.

The bank proposed an annual dividend for 2018 of GEL 2.67 per share, a 4.5% increase over last year's dividend.

At 8:38am: [LON:BGEO] Bank Of Georgia Group PLC share price was +70.5p at 1699.5p

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