Banking sector finishes first quarter with a net profit of GEL 17.7 million

According to National Bank of Georgia, as of June 1 2014, the banking sector in Georgia is represented by 21 commercial banks, including 18 foreign-controlled banks and two branches of non-resident banks. Compared with the previous month, the total assets of Georgian commercial banks decreased (in current prices) by 0.1 billion GEL (or by 0.8 percent) and constituted 17.8 billion GEL. The banking sector's own funds (equity capital) equal 3.0 billion GEL, which makes up 16.8 percent of the commercial banks' total assets.

In May 2014, the banking sector finished with a net profit of GEL 17.7 million. (frontnews)