Bank of Georgia Financial Analysis
BANK OF GEORGIA GROUP INCOME STATEMENT
Bank of Georgia Group Consolidated
Banking Business
Discontinued Operations
Change
GEL thousands, unless otherwise noted
2018
2017
2018
2017
y-o-y
Change
y-o-y
2018
2017
Interest income
1,322,297
1,131,914
16.8%
Interest expense
Net interest income
Fee and commission income
Fee and commission expense
Net fee and commission income
(580,544)
741,753
(459,379)
26.4%
1,327,085
(587,481)
1,140,292
16.40%
(468,192)
25.50%
672,535
10.3%
739,604
672,100
10.0%
228,769
190,392
20.2%
229,670
192,499
19.3%
(76,107)
(60,342)
26.1%
(76,488)
(61,025)
25.3%
152,662
130,050
17.4%
153,182
131,474
16.5%
Net foreign currency gain
128,762
79,106
62.8%
129,437
86,060
50.4%
Net other income
7,262
18,645
-61.1%
7,815
19,701
-60.3%
Revenue
1,030,439
900,336
14.5%
1,030,038
909,335
13.3%
Salaries and other employee benefits
(214,761)
(195,994)
9.6%
(215,816)
(198,213)
8.9%
Administrative expenses
(112,654)
(98,372)
14.5%
(113,264)
(100,291)
12.9%
Eliminations
Change
2018
2017
y-o-y
Change
y-o-y
(4,788)
6,937
(8,378)
8,813
-42.9%
-21.3%
2,149
435
NMF
(901)
(2,107)
-57.2%
381
683
-44.2%
(520)
(1,424)
-63.5%
(675)
(6,954)
-90.3%
(553)
(1,056)
-47.6%
401
(8,999)
NMF
1,055
2,219
-52.5%
610
1,919
-68.2%
Depreciation and amortisation
(45,442)
(40,974)
10.9%
(45,442)
(40,974)
10.9%
Other operating expenses
(3,995)
(3,458)
15.5%
Operating expenses
(376,852)
(338,798)
11.2%
Profit from associates
Operating income before cost of risk
1,339
654,926
Expected credit loss/ impairment charge on loans to
customers
(139,499)
1,311
562,849
(155,210)
2.1%
16.4%
-10.1%
(3,995)
(378,517)
1,339
652,860
(139,499)
(3,458)
15.5%
(342,936)
10.4%
1,665
4,138
-59.8%
1,311
567,710
(155,210)
2.1%
15.0%
2,066
(4,861)
NMF
-10.1%
Expected credit loss/ impairment charge on finance lease
receivables
(164)
(496)
-66.9%
(164)
(496)
-66.9%
Other expected credit loss/impairment charge on other
assets and provisions
(20,562)
(11,590)
77.4%
(20,562)
(11,590)
77.4%
Cost of risk
(160,225)
(167,296)
-4.2%
(160,225)
(167,296)
-4.2%
Profit before non-recurring items and income tax
494,701
395,553
25.1%
492,635
400,414
23.0%
2,066
(4,861)
NMF
Net non-recurring items
(57,156)
(4,300)
NMF
(57,328)
(4,300)
NMF
172
Profit before income tax
437,545
391,253
11.8%
435,307
396,114
9.9%
2,238
(4,861)
NMF
Income tax expense
Profit from continuing operations
Profit from discontinued operations
Profit
Attributable to:
(56,665)
(26,592)
113.1%
(56,665)
(26,592)
113.1%
380,880
364,661
4.4%
378,642
369,522
2.5%
2,238
(4,861)
NMF
107,898
98,788
9.2%
110,136
93,927
17.3%
(2,238)
4,861
NMF
488,778
463,449
5.5%
378,642
369,522
2.5%
110,136
93,927
17.3%
- shareholders of the Group
- non-controlling interests
468,996
437,615
19,782
25,834
7.2%
-23.4%
377,075
1,567
367,832
1,690
2.5%
91,921
69,783
31.7%
-7.3%
18,215
24,144
-24.6%
Profit from continuing operations attributable to:
- shareholders of the Group
379,313
- non-controlling interests
1,567
362,971
1,690
4.5%
-7.3%
377,075
1,567
367,832
2.5%
2,238
(4,861)
NMF
1,690
-7.3%
Profit from discontinued operations attributable to:
- shareholders of the Group
89,683
74,644
20.1%
- non-controlling interests
18,215
24,144
-24.6%
91,921
69,783
31.7%
(2,238)
4,861
NMF
18,215
24,144
-24.6%
Earnings per share (basic)
10.78
11.61
-7.1%
- earnings per share from continuing operations
8.72
9.63
-9.4%
- earnings per share from discontinued operations
2.06
1.98
4.0%
Earnings per share (diluted)
10.71
11.07
-3.3%
-earnings per share from continuing operations
- earnings per share from discontinued operations
8.66
9.18
-5.7%
2.05
1.89
8.5%
BANK OF GEORGIA
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