Bank of Georgia Financial Analysis

GROWTH ORIENTED REFORMS Ease of Doing Business | 2019 Source: WB-IFC Doing Business Report New Zealand 1 Singapore 2 Denmark 3 Georgia Norway USA UK Lithuania Estonia 6799 up from 9th in 2018 UK 7 USA 12 Estonia 15 Georgia 16 Lithuania 21 Economic Freedom Index | 2019 Source: Heritage Foundation Top 8 in Europe region out of 44 countries Czech rep. 23 Latvia 35 Bulgaria 37 Romania Poland Armenia Kazakhstan Azerbaijan 42 46 47 59 60 Hungary Tukey France 71 Italy Russia Ukraine 64 68 71 80 98 147 Latvia Germany Azerbaijan Kazakhstan Russia Poland Czech Rep. Armenia Turkey Ukraine 14 16 19 2452833335 41 43 Global Corruption Barometer | 2017 Germany Georgia Poalnd Czech Rep. Slovak Rep. Latvia Montenegro Bulgaria Turkey Lithuania Armenia Bosnia & Herz. Romania Kazakhstan Russia Ukraine Azerbaijan Moldova Source: Transparency International % admitting having paid a bribe last year Georgia is on a par with EU member states 3% 7% 7% 9% 12% 15% 16% 17% 18% 24% 24% 27% 29% 29% 34% 38% 38% 42% BANK OF GEORGIA Business Bribery Risk | 2018 Sweden Norway 3 UK 7 Singapore Estonia 15 18 USA France Lithuania Georgia Czech rep. Poland Latvia Armenia Bulgaria Azerbaijan Ukraine Russia Kazakhstan Turkey Uzbekistan 27 23313133039 Source: Trace International 36 77% 79 95 105 108 127 130 177 BB 37

View entire presentation