TBC Bank reports 2023 profit up 14% y/y to GEL1.14 billion

By bne IntelliNews February 19, 2024
In 4Q 2023, TBC Bank made a profit of GEL291 million, representing a 30% YoY increase, with a return on equity (ROE) at 25%, according to unaudited preliminary consolidated financial results.
 
For FY 2023, the profit exceeded GEL1.14 billion, marking a 14% YoY increase, with an ROE of 26.5%. 
 
Financial highlights for 4Q'23 include a net interest income of GEL442 million, a net fee and commission income of GEL110 million, and other non-interest income of GEL87 million. The total operating income amounted to GEL639 million, with a profit before tax of GEL337 million.
 
On the balance sheet, total assets increased by 14% YoY to GEL32.97 billion, gross loans reached GEL22 billion (21% YoY increase), and customer deposits amounted to GEL20 billion (13.0% YoY increase).
 
Key ratios for 4Q'23 include an ROE of 25%, ROA of 4%, net interest margin (NIM) of 7%, and a cost-to-income ratio of 40%. The bank maintains a robust position with a non-performing loan (NPL) to gross loans ratio of 2% and an NPL provision coverage ratio of 80%. 
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank

London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more

IndiGo cancels Central Asian flights until late February over Iran tensions

Indian budget carrier IndiGo has cancelled all flights to and from Tbilisi, Almaty, Baku and Tashkent until February 28 due to the developing situation around Iran, the airline announced on February ... more

Orban’s new illiberal axis

Amid the furore over Hungarian Prime Minister Viktor Orban’s visit to Tbilisi immediately after the allegedly stolen October 26 general election, a visit by the country’s President Tamas ... more

Follow Us On

Most Read

Reports

Dismiss
liveChat() ?>