Georgia's Economic Outlook 2020
GROUP INCOME STATEMENT
GEL thousands, unless otherwise noted
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
Operating income
75
Change
Change
1Q20
1Q19
4Q19
388,326
(191,246)
334,735
(144,754)
y-o-y
16.0%
q-o-q
393,480
-1.3%
32.1%
(186,389)
2.6%
197,080
189,981
3.7%
207,091
-4.8%
70,894
62,531
13.4%
77,472
-8.5%
(30,782)
(20,351)
51.3%
(30,914)
-0.4%
40,112
42,180
-4.9%
46,558
-13.8%
30,661
22,985
33.4%
37,177
-17.5%
6,627
3,568
85.7%
18,439
-64.1%
274,480
258,714
6.1%
309,265
-11.2%
Salaries and other employee benefits (excluding one-offs)
(56,538)
(52,418)
7.9%
(61,504)
-8.1%
One-off termination costs of former executive management (1)
(7,842)
NMF
Salaries and other employee benefits
(56,538)
(60,260)
-6.2%
(61,504)
-8.1%
Administrative expenses
(27,021)
(22,741)
18.8%
(35,131)
-23.1%
Depreciation, amortisation and impairment
(21,390)
(15,688)
36.3%
(23,815)
-10.2%
Other operating expenses
(1,059)
(1,080)
-1.9%
(1,095)
-3.3%
Operating expenses
(106,008)
(99,769)
6.3%
(121,545)
-12.8%
Profit from associates
301
188
60.1%
153
96.7%
Operating income before cost of risk
168,773
159,133
6.1%
187,873
-10.2%
Expected credit loss/ impairment charge on loans to customers
(228,189)
(40,117)
NMF
(7,985)
NMF
Expected credit loss/ impairment charge on finance lease receivables
(1,885)
(446)
NMF
451
NMF
Other expected credit loss/ impairment charge on other assets and provisions
Cost of risk
(11,329)
(2,089)
NMF
(6,698)
69.1%
(241,403)
(42,652)
NMF
(14,232)
NMF
Net operating (loss) / income before non-recurring items
(72,630)
116,481
NMF
173,641
NMF
Net non-recurring items (excluding one-offs)
Net non-recurring items
(40,345)
(1,575)
NMF
(1,591)
NMF
One-off termination costs of former CEO (2)
(3,985)
NMF
(40,345)
(5,560)
NMF
(1,591)
NMF
(Loss)
profit before income tax expense
(112,975)
110,921
NMF
172,050
NMF
Income tax benefit (excluding one-offs)
13,030
(10,536)
NMF
(15,515)
NMF
Income tax benefit related to one-off termination costs of former CEO and
executive management (3)
1,587
NMF
Income tax benefit / (expense)
13,030
(8,949)
NMF
(15,515)
NMF
(Loss) / profit
(99,945)
101,972
NMF
156,535
NMF
One-off items (1)+(2)+(3)
(10,240)
NMF
(Loss) / profit attributable to:
- shareholders of the Group
- non-controlling interests
(Loss) / earnings per share (basic)
(Loss) / earnings per share (diluted)
(99,515)
101,512
NMF
155,823
NMF
(430)
460
NMF
712
NMF
(2.09)
2.12
NMF
3.30
NMF
(2.08)
2.11
NMF
3.29
NMFView entire presentation