Bank of Georgia Financial Overview

Summary - - - Growing and well capitalised banking sector Prudent regulation ensuring financial stability Sector total capital ratio (NBG standards) -20%, Basel 26% High level of liquidity requirements from NBG at 30% of liabilities, resulting in banking sector liquid assets to client deposits of 57% Resilient banking sector Demonstrated strong resilience towards both domestic and external shocks without single bank going bankrupt No nationalization of the banks and no government ownership since 1995 Excess liquidity and excess capital accumulated by the banking sector to help boost the financing of the economic growth Very low leverage with retail loans c. 11.6% of GDP and total loans at c. 31.9% of GDP resulting in low number of defaults during the global crisis Source: National Bank of Georgia, Geostat Banking sector assets, loans and deposits as YE2011 GEL bn 14 12 10 8 6 4 2 CAGR 32.5% Bank debt and deposits to GDP as of YE2011 120% 100% 80% 60% 40% 20% 0% ■Bank Loans to GDP Gross Loans/GDP 31.9% Total Deposits/GDP 30.3% Armenia Belarus Georgia Macedonia Russia Turkey Moldova Serbia Source: National Bank of Georgia, Geostat Deposits to GDP Estonia Latvia Bulgaria Ukraine Lithuania Romania Hungary Croatia Bosnia&Herzegovina NPLs as % of total loans according to the IMF, lower than the banking sector NIM of c.7% as of YE2011 12.7 Georgia USA Poland Ireland 7.2 Hungary 6.7 Croatia 2003 2004 2005 Total Assets 2006 2007 2008 2009 Net Loans ■Deposits 2010 2011 Source: National Bank of Georgia BANK OF GEORGIA Romania Bulgaria Ukraine Latvia Lithuania 0.0% 4.6% 4.7% 8.4% 9.2% 10.4% 11.5% 13.4% 13.5% 15.4% 18.4% 19.1% 5.0% 10.0% 15.0% 20.0% 25.0% Source: National Bank of Georgia, IMF www.bogh.co.uk www.bankofgeorgia.ge/ir May 2012 Page 40

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