Bank of Georgia Financial Analysis
STRONG UNDERLYING PERFORMANCE
Operating expenses | quarterly
Banking Business
+1.1%
+3.8%
→
120
99.7
100.9
97.1
1.2
100
1.2
1.0
GEL millions
10.5
11.4
11.2
80
32.2
30.0
30.8
60
40
55.8
54.1
58.3
20
O
Operating expenses | full-year
Banking Business
GEL millions
+10.4%
400
342.9
378.5
4.0
3.4
45.4
320
41.0
113.3
240
100.3
160
198.2
215.8
80
4Q17
3Q18
4Q18
2017
Other operating expenses
Depreciation and amortisation
Administrative expenses
■Salaries and other employee benefits
O Other operating expenses
Administrative expenses
Operating income before cost of risk | quarterly
Banking Business
200
150
GEL millions
100
50
160.8
172.3
-50
-100
4Q17
(42.6)
3Q18
(51.9)
2018
Depreciation and amortisation
■Salaries and other employee benefits
Operating income before cost of risk | full-year
Banking Business
800
172.5
600
GEL millions
400
200
4Q18
(47.4)
Cost of risk and net non-recurring items
Operating income before cost of risk
BANK OF GEORGIA
* 2018 net non-recurring items include GEL 30.3mln demerger related costs
2017
-200
(171.6)
-400
567.7
2018
(217.6)
Cost of risk and net non-recurring items*
Operating income before cost of risk
652.9
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