Bank of Georgia updates market on unaudited, regulated profits

Bank of Georgia Group updated the market on its unaudited profits for the first nine months of 2023 on Tuesday, as disclosed by its regulator, the National Bank of Georgia (NBG).

The FTSE 250 company said the unaudited profit for JSC Bank of Georgia, its regulated banking subsidiary, during the period stood at GEL 981.9m (£294.93m).

It noted that the figure reflected only the earnings of JSC Bank of Georgia, and did not represent the fully consolidated profit of Bank of Georgia Group.

For the first half of, JSC Bank of Georgia recorded profits amounting to GEL 651.1m.

In contrast, the fully consolidated profit for Bank of Georgia Group for the same period was GEL 709.9m.

At 0921 GMT, shares in Bank of Georgia Group were up 0.57% at 3,500p.

Reporting by Josh White for Sharecast.com.