Bank of Georgia Growth and Reform Strategy
STRONG UNDERLYING PERFORMANCE
Operating expenses* | quarterly
Banking Business
GEL millions
+20.5%
+12.6%
121.5
107.9
140
120
100.9
1.1
0.8
1.2
23.8
100
11.4
21.3
80
30.0
26.3
35.1
60
40
58.3
59.5
61.5
20
О
Operating expenses* | full year
Banking Business
GEL millions
450
378.5
4.0
360
45.4
270
113.3
180
215.8
90
4Q18
3Q19
4Q19
2018
Other operating expenses
Administrative expenses
■Depreciation, amortisation and impairment
■Salaries and other employee benefits
Other operating expenses
Administrative expenses
Operating income before cost of risk* | quarterly
Banking Business
GEL millions
200
172.5
150
100
50
177.2
-50
4Q18
(43.0)
3Q19
(20.2)
4Q19
(15.8)
Cost of risk and net non-recurring items
Operating income before cost of risk
BANK OF GEORGIA
187.9
+10.9%
419.9
4.2
78.1
106.2
231.4
2019
Depreciation, amortisation and impairment
■Salaries and other employee benefits
Operating income before cost of risk* | full year
Banking Business
GEL millions
800
600
400
200
652.9
2018
2019
-200
(118.3)
(182.9)
Cost of risk and net non-recurring items
Operating income before cost of risk
* Operating expenses, operating income before cost of risk and net non-recurring items are adjusted for one-off costs. Please see details on one-
offs on pages 66-67 for all the periods presented.
691.1
12
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