StockMarketWire.com - Bank of Georgia said it had said it had set aside a loan loss provision of GEL 400m (£102m) to cover potential defaults related to the Covid-19 crisis.

The provision was made with regard to Georgian central bank's updated supervisory plan for the country's banking sector.

It represented about 3.3% of Bank of Georgia's lending book.

'As we announced last week, the bank's capital adequacy ratios, funding and liquidity positions have been strong, and remaining comfortably above of minimum regulatory requirements,' the company said.

At 1:30pm: [LON:BGEO] Bank Of Georgia Group PLC share price was +53.5p at 889.5p



Story provided by StockMarketWire.com