BGEO Group Financial Update

Holding company of BANK OF GEORGIA BGEO www.bgeo.com GROUP November 2015 External corporate indebtdness to GDP Corporate loans to GDP Underpenetrated retail banking sector provides room for further growth Corporate loans to GDP Retail loans to GDP 2013 40% 40% 35% 35% 30% 30% 25% 15% 15% 14% 25% 20% 6% 6% 8% 10% 10% 20% 6% 15% 15% 6% 10% 9% 8% 5% 10% 13% 17% 17% 17% 17% 18% 18% 20% 22% 10% 21% 18% 13% 6% 7% 5% 9% 11% 11% 13% 14% 0% 3% 3% 4% 6% 0% 2014 Banking Sector loans and deposits YE 2013 Georgia* Moldova 39.1% ■Gross loans/GDP 36.1% 43.5% ■Deposits/GDP 53.5% Romania 44.3% 57.8% 48.8% Lithuania 40.1% Russia 53.4% 39.1% 55.6% Turkey 53.8% Ukraine 63.8% 46.9% 68.1% Bulgaria 67.3% Serbia 74.9% 56.3% Latvia 78.2% 45.9% 78.8% Estonia 74.5% Source: NBG, Central Banks page 62 2003 2004 ■Retail loans to GDP 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

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