Foreign capital in Georgia’s banks reach 78% in May
By Messenger Staff
Friday, June 27The foreign capital portion of banks’ total assets increased by 74.7 percent in May 2014.The National Bank of Georgia (NBG) today reported that compared to April, the total assets of Georgian commercial banks decreased (in current prices) by 0.1 billion GEL (down 0.8 percent) and constituted 17.8 billion GEL. The banking sector’s own funds (equity capital) equaled 3 billion GEL, which made up 16.8 percent of commercial banks' total assets. Meanwhile, at the end of May, the banking sector finished with a net profit of 17.7 million GEL. The five banks with the largest assets constituted 75.9 percent of the total share of assets in the banking sector. Currently, Georgia’s banking industry is represented by 21 commercial banks, including 18 banks with foreign capital and branches of two non-resident banks.