1Q23 Performance Overview
Listed
Portfolio
BANK OF GEORGIA
BANK OF GEORGIA OVERVIEW
http://bankofgeorgiagroup.com/
Stock price performance
40
35
30
25
20
15
10
5
May/18
Jun/18
Jul/18
Aug/18
Sep/18
Oct/18
Nov/18
Dec/18
Jan/19
Feb/19
Mar/19
Apr/19
May/19
Jun/19
Jul/19
Aug/19
Sep/19
Oct/19
Nov/19
Dec/19
Jan/20
Feb/20
Mar/20
Apr/20
May/20
Jun/20
Jul/20
Aug/20
Sep/20
Oct/20
Oct/20
Nov/20
Dec/20
Jan/21
Feb/21
Mar/21
Apr/21
May/21
Jun/21
Jul/21
Aug/21
Sep/21
Oct/21
Nov/21
Dec/21
Jan/22
Feb/22
Mar/22
Apr/22
May/22
Jun/22
Jul/22
Aug/22
Sep/22
Oct/22
Nov/22
Dec/22
Jan/23
Feb/23
Selected operating metrics
31-Mar-22
Financial metrics (GEL million)
GBP 27.50
as of 31-Mar-23
NIM
2015 2016 2017 2018 2019 2020 2021 2022 1Q22 1Q23
Change
y-o-y
7.7% 7.4% 7.3% 6.5% 5.6% 4.6% 4.9% 5.4% 5.3% 6.4% +1.1 ppts
NPL coverage
83.4% 86.7% 92.7% 90.5% 80.9% 76.3% 95.5% 66.4% 97.3% 72.8% -24.5 ppts
Mar/23
Loan portfolio
Cost/income2,3
5,367 6,682 7,741 9,398 11,931 14,192 16,169 16,862 16,289 16,993
+4.3%
35.5% 37.7% 37.7% 36.7% 37.8% 39.7% 37.2% 32.0% 35.0% 29.1%
-5.9 ppts
31-Mar-23
Change
Number of monthly active customers ('000)
1,494
1,754
+17.4%
4Q21
4Q22
Change
Number of transactions in mBank and iBank ('000)
35,269
53,493
51.7%
Profits & ROAE
GEL 16.7 billion gross loan portfolio breakdown* | 31 March 2023
Corporate loans,
GEL 4,981 million, 30%
Retail loans,
SME loans,
GEL 4,139 million, 25%
GEL 7,568 million, 45%
Loan book growth
Dividend record (GEL million)
Loan book growth (nominal)
Loan book growth (constant currency basis)
ROAE¹
21.9%
22.2% 25.2% 26.4% 26.1% 13.0% 25.8% 32.4%2 27.9%
Payout ratio4:
36%
33%
34%
32%
30%
30%
27.0%
24.5%
1,1322
20.9%
21.4%
19.8%
18.9%
17.4%
Share buyback
GEL million
16.1%
22.0%
15.1%
727
19.0%
13.9% 12.9%
Total dividend paid for the year
10.2%
500
370
379
274
296
295
15.9%
301
1.5%
4.3%
4.3%
3. 2019 cost/income ratio adjusted for GEL 12.4 million one-off employee costs (gross of income tax) related to termination benefits of the former executive management
4. For the purpose of total payout ratio calculation, total buyback amount is divided by outstanding shares before the beginning of the respective programme.
5. Based on number of shares excluding treasury shares per IFRS as at 11 May 2023.
* Bank of Georgia Standalone.
2015 2016 2017
2018
2019 2020
2021
2022
1Q23
2015 2016 2017
2018 2019
2020 2021 2022 2023
Georgia Capital PLC | 1. 2019 ROAE and profit are adjusted for termination costs of the former CEO and executive management, while 2018 ROAE is adjusted for demerger related expenses, one-off impact of re-measurement of deferred tax balance and termination costs of the former CEO.
2. Adjusted for a one-off GEL 391.1m of other income due to the settlement of an outstanding legacy claim, and a one-off GEL 79.3m tax expense due to an amendment to the current corporate taxation model in Georgia.
257
35%
37%
532
184
72
80
98
122
124
102
84
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
188
GEL 5.80 final dividend
per share put for
73
260
shareholder approval
48
43
GEORGIA
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