Bank of Georgia Growth and Reform Strategy
BANK OF GEORGIA GROUP INCOME STATEMENT
Bank of Georgia Group Consolidated
Change
GEL thousands, unless otherwise noted
2019
2018
2019
Banking Business
2018
Discontinued Operations
y-o-y
Change
y-o-y
2019
2018
Interest income
Interest expense
Net interest income
Fee and commission income
Fee and commission expense
Net fee and commission income
Net foreign currency gain
Net other income / (expense)
Operating income
1,437,161 1,322,297
(647,742) (580,544)
8.7%
11.6%
1,437,161 1,327,085
(647,742)
8.3%
(587,481)
10.3%
789,419
741,753
6.4%
789,419
739,604
6.7%
284,193
228,769
24.2%
284,193
229,670
23.7%
(104,179)
(76,107)
36.9%
(104,179)
(76,488)
36.2%
180,014
152,662
17.9%
180,014
153,182
17.5%
119,363
128,762
-7.3%
119,363
129,437
-7.8%
21,474
7,262
NMF
21,474
7,815
NMF
1,110,270
1,030,439
7.7%
1,110,270
1,030,038
7.8%
Salaries and other employee benefits (excluding one-offs)
(231,443)
(214,761)
7.8%
(231,443)
(215,816)
7.2%
One-off termination costs of executive management (1)
(12,412)
NMF
(12,412)
NMF
Salaries and other employee benefits
(243,855)
(214,761)
13.5%
(243,855)
(215,816)
13.0%
Administrative expenses
(106,157)
(112,654)
-5.8%
(106,157)
(113,264)
-6.3%
Eliminations
Change
y-o-y
Change
2019
2018
y-o-y
(4,788)
NMF
6,937
NMF
2,149
NMF
(901)
NMF
381
NMF
(520)
NMF
(675)
NMF
(553)
NMF
401
NMF
1,055
NMF
1,055
NMF
610
NMF
Depreciation, amortisation and impairment
Other operating expenses
Operating expenses
Profit from associates
Expected credit loss/ impairment charge on finance lease receivables
Operating income before cost of risk
Expected credit loss/ impairment charge on loans to customers
Other expected credit loss/ impairment charge on other assets and provisions
Cost of risk
(78,118)
(4,228)
(432,358)
789
678,701
(94,155)
(885)
(12,544)
(45,442)
71.9%
(78,118)
(45,442)
71.9%
(3,995)
5.8%
(376,852)
14.7%
(4,228)
(432,358)
(3,995)
5.8%
1,339
654,926
(139,499)
(164)
(20,562)
-41.1%
3.6%
-32.5%
NMF
-39.0%
789
678,701
(94,155)
(885)
(12,544)
(378,517)
1,339
652,860
(139,499)
14.2%
1,665
NMF
-41.1%
4.0%
-32.5%
2,066
NMF
(164)
(20,562)
NMF
-39.0%
(107,584)
(160,225)
-32.9%
(107,584)
(160,225)
-32.9%
Net operating income before non-recurring items
Net non-recurring items (excluding one-offs)
571,117
494,701
15.4%
571,117
492,635
15.9%
(10,723)
(22,471)
-52.3%
(10,723)
(22,643)
-52.6%
One-off termination costs of former CEO, one-off demerger related expenses (2)
(3,985)
(34,685)
-88.5%
(3,985)
(34,685)
-88.5%
Net non-recurring items
(14,708)
(57,156)
-74.3%
(14,708)
(57,328)
-74.3%
Profit before income tax expense from continuing operations
Income tax expense (excluding one-offs)
556,409
437,545
27.2%
556,409
435,307
27.8%
2,238
2,066
NMF
172
NMF
-
172
NMF
NMF
(58,619)
(34,948)
Income tax benefit related to one-off termination costs, one-off demerger related
expenses and one-off impact of re-measurement of deferred tax balances (3)
2,161
Income tax expense
Profit from continuing operations
Profit from discontinued operations
Profit
One-off items (1)+(2)+(3)
Profit attributable to:
(56,458)
499,951
499,951
(21,717)
(56,665)
380,880
107,898
488,778
67.7%
NMF
-0.4%
31.3%
NMF
2.3%
(58,619)
(34,948)
67.7%
2,161
(56,458)
499,951
(21,717)
NMF
(56,665)
-0.4%
378,642
32.0%
2,238
NMF
110,136
499,951
378,642
32.0%
110,136
NMF
NMF
(2,238)
NMF
(14,236)
(56,402)
-74.8%
(14,236)
(56,402)
-74.8%
- shareholders of the Group
- non-controlling interests
Profit from continuing operations attributable to:
- shareholders of the Group
- non-controlling interests
Profit from discontinued operations attributable to:
- shareholders of the Group
- non-controlling interests
497,664
2,287
468,996
19,782
6.1%
-88.4%
497,664
2,287
377,075
32.0%
91,921
NMF
1,567
45.9%
18,215
NMF
497,664
379,313
2,287
1,567
31.2%
45.9%
497,664
2,287
377,075
32.0%
2,238
NMF
1,567
45.9%
89,683
NMF
91,921
NMF
(2,238)
NMF
18,215
NMF
18,215
NMF
:
Earnings per share (basic)
10.45
10.78
-3.1%
- earnings per share from continuing operations
10.45
8.72
19.8%
- earnings per share from discontinued operations
2.06
NMF
Earnings per share (diluted)
10.42
10.71
-2.7%
- earnings per share from continuing operations
10.42
8.66
20.3%
- earnings per share from discontinued operations
2.05
NMF
BANK OF GEORGIA
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