Annualized Growth Rate of Bank Sector Assets Stands at 25 percent as of September 1

The annualized growth rate of assets of the Georgian bank sector stands at 25 percent as of September 1.

The National Bank of Georgia (NBG) says the bank sector assets rose 53.3 million GEL in August (up 0.5 percent) and equaled 9 845 660 000 GEL as of September 1.

In the reporting period, the bank sector’s own funds account for 1.6 billion GEL (assets 16.8 percent). The ratio of foreign banks in total cashed authorized capital amounts to 79.6 percent.

The bank sector ended the month of August in profits of 71.6 million GEL. The reporting period has registered eleven profitable banks and their consolidated profits amount to 132 million GEL.

The ratio of five major commercial banks in total assets of the Georgian bank sector dropped 2.3 percent to 77.3 percent.

The Georgian bank sector registers 19 commercial banks as of September 1.