Fiscal and Loan Portfolio Analysis

Consolidated Operating profit, Provision expense Normalized net operating income Net provision expense BoG Consolidated GEL mln 120 Net provision GEL mln 40 expenses 38.7 39 improved by 103.2 100 8.0% q-o-q 38 37.1 37.1 37 36.6 36.3 80 Bank of 36 Georgia 35 34.3 34.3 60 Standalone Net 34 provision 33 32.5 40 32 expenses 40.7 32.1 30.0 27.6 declined by 31 20 7.5 7.2 10.9 1.9% q-o-q 30 29 0 Q1 2008 BG Bank's Net Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 provision expense improved by 37.2% q-o-q which drove Net provision expense BoG Standalone Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Net provision expense BG Bank Standalone GEL mln 30 25 GEL mln 160 overall changes higher 140 120 103.9 Net loss for Q4 100 2009 was GEL 102.4 mln. 2009 2009 Net loss was GEL 864 80 60 40 99.0 mln 20 8.6 6.7 0 20 18.2 15 10 13.0 11.0 9.3 8.1 29.6 24.0 17.7 17.4 5 (4.5) 0.4 (1.3) 0.5 0 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 (5) -20 Q1 2008 Q2 2008 Q3 2008 Q4 2008 -40 Lobko BANK OF GEORGIA www.bog.ge/ir March 2010 Page 29

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