Georgian banking sector success

After 2 years of problems the Georgian banking sector has started to recover. In 2010 banking sector profits amounted to GEL 156 million. Bank of Georgia profit accounted for GEL 91 million of this amount, while TBC Bank’s profit was 43 million. Other banks will publish their results in February. As of January 1, 2011 there are 19 banks operating in Georgia, 14 of which have foreign capital in their capital assets and 5 of which are foreign-owned. Currently, the total capital assets of Georgian banks is over GEL 10 billion and this figure is rising.