Tracking Georgia's Economic Recovery
STRONG UNDERLYING PERFORMANCE AMID COVID-19 IMPACT
OPERATING EXPENSES | QUARTERLY
-4.9%
OPERATING EXPENSES* | NINE MONTHS
+5.2%
-2.4%
107.9
105.2
102.6
0.8
0.9
0.9
21.3
21.1
19.1
26.3
22.5
24.4
298.4
3.2
54.3
71.0
169.9
59.5
60.7
58.2
3Q19
2Q20
Other operating expenses
Administrative expenses
3Q20
Depreciation, amortisation and impairment
Salaries and other employee benefits
9M19
Other operating expenses
Administrative expenses
COST/INCOME | QUARTERLY
Operating Leverage: +1.9% y-o-y
+17.8% q-o-q
43.9%
37.9%
3Q19
2Q20
37.1%
3Q20
313.8
2.8
61.7
73.9
175.4
20
9M20
Depreciation, amortisation and impairment
Salaries and other employee benefits
COST/INCOME* | NINE MONTHS
Operating Leverage*: -6.4% y-o-y
37.3%
39.7%
9M19
9M20
* The 9M19 operating expenses, cost to income ratio and operating leverage are adjusted for one-off costs. Please see details on one-offs on page 74View entire presentation