Fiscal and Loan Portfolio Analysis

Profitability& Selected Ratios Net Income (Loss) GEL mln Net loans/Client deposits GEL mln 200% 100 75.6 80 60 40 26.8 13.6 20 0.2 100% 0 2005 2006 2007 2008 2009 (20) (40) - (60) - (80) (100) 0% (99.0) (120) Net interest margin (annualized) 12% 174.4% 168.7% 170.6% 160.6% 147.8% 131.7% 140.3% 136.9% Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Cost Income Ratio* 240% 9.8% 10.1% 9.6% 200% 10% 10.0% 8.9% 9.1% 9.3% 9.9% 9.8% 9.2% 9.0% 9.3% 9.0% 9.1% 8.9% 8% 8.1% 8.6% 160% 7.5% 120% 6% 4% 2% 26 80% 54.8% 56.9% 57.8% 59.1% 55.4% 52.7% 57.5% 56.7% 49.3% 44.8% 47.3% 46.5% 52.3% 46 50 40% 47.3% 47.7% 48.5% 44.7% 43.1% 41.4% 48.9% 44.5% 0% 0% Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2008 Q2 2008 03 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Net Interest Margin, Group Consolidated Net Interest Margin, BoG Standalone Cost/Income Ratio, Consolidated -Cost/Income Ratio, Bank of Georgia Standalone Cash Cost/Income Ratio *Normalized for Total Non- recurring costs Lobko BANK OF GEORGIA www.bog.ge/ir March 2010 Page 30

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