Investor Presentaiton
Bank of Georgia (BOG) Overview
Key facts
High standards of transparency and governance
The first entity from Georgia to be listed on the premium segment of the Main Market of the London Stock Exchange
(LSE:BGEO) since February 2012.
Industry investment rationale
Leading market position¹ in Georgia by assets (36.2%), loans (33.3%), client deposits (35.4%) and equity (28.6%)
Market with stable growth perspectives
■ Strong brand name recognition and retail banking franchise
Sustainable growth combined with strong capital, liquidity and robust profitability
■ Outstanding ROAE performance
Targets
■ Become a regional private banking hub with AUM: GEL 2.5bln
Maintenance of dividend payout ratio within 25-40%
Financial metrics (GEL m)
BANK OF GEORGIA
GEORGIA
CAPITAL
30
Market opportunity
Banking sector assets, loans and deposits
40
ww
35
26.2% CAGR
34.6
30.1
25
25.2
20
20.6
22.3
17.3
18.9
15
12.7
14.4
16.0
8.9
10.6
13.0
10
1.3
1.7
2.5
4.2
7.2
8.3
10.5
6.0
4.6
5.2
6.3
7.7
8.7
5
0.8
0.9
1.7
2.7
19.8
0.7
2.1
1.0
3.2
3.6
0
1.3
4.0
5.5
6.7
7.6
9.7
11.6
14.3
17.0
2003
2004
2005 2006 2007 2008
Source: NBG
Assets, GEL bn
2009 2010 2011 2012 2013 2014 2015 2016 2017
Loans, GEL bn
Deposits, GEL bn
GEL 7.8bln loan portfolio breakdown (GEL m) (2) | 31 March 2018
Annual
2015
2016
2017
Quarterly
1Q17
1Q18
ROAE
NIM
21.9%
22.2%
25.2%
23.7%
25.9%
7.7%
7.4%
7.3%
7.4%
7.0%
NPL coverage
83.4%
86.7%
92.7%
87.1%
111.4%
Retail loans,
5,279.8mln,
Corporate
loans,
2,333.9mln,
30.7%
Loan portfolio
5,367
6,682
7,741
6,471
7,792
69.3%
Retail banking growth
35.3%
39.5%
29.3%
34.1%
32.5%
Cost/income
35.5%
37.7%
37.7%
36.0%
37.0%
Dividend record (GEL m)
Selected operating metrics
Payout
ratio:
10%
15%
30%
36%
33%
34%
32%
32%
1Q17
4Q17
1Q18
140
Retail clients (thousands)
Product to client ratio (retail)
Mobile bank transactions (thousands)
Digital transactions (mln)
2,188
2,315
2,356
120
100
Dividend per share CAGR (GEL)-39.6%
3.50
3.10
2.40
2.60
3.00
2.10
2.00
2.50
2.0
2.2
2.2
80
1.50
2.00
60
0.70
c.120
1.50
980
98
102
2,324
2,818
40
0.30
72
80
1.00
20
9
24
51
0.50
8.1
10.3
10.5
0
0.00
2010
2011
2012
2013
2014
2015
Total dividend paid for the year
2016
Dividend per share
2017F
(1)
(2)
Exit Strategy - Sell downs
Market data based on standalone accounts as published by the National Bank of Georgia (NBG) as of 31 March 2018 www.nbg.gov.ge
Excluding BNB
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