Tracking Georgia's Economic Recovery

CIB HIGHLIGHTS INCOME STATEMENT HIGHLIGHTS 39 Change Change Change GEL thousands unless otherwise noted 3Q20 3Q19 2Q20 9M20 9M19 y-o-y q-o-q y-o-y Net interest income Net fee and commission income Net foreign currency gain Net other income Operating income 68,454 51,827 32.1% 63,110 8.5% 200,905 152,232 32.0% 9,500 9,826 -3.3% 9,197 3.3% 27,652 25,090 10.2% 4,976 13,510 -63.2% 11,431 -56.5% 24,941 35,014 -28.8% 4,653 3,300 41.0% 4,825 -3.6% 14,160 4,294 NMF 87,583 78,463 11.6% 88,563 -1.1% 267,658 216,630 23.6% Salaries and other employee benefits (13,034) (15,304) -14.8% (14,170) -8.0% (37,764) (42,481) -11.1% Administrative expenses (4,483) (5,866) -23.6% (3,488) 28.5% (12,437) (13,897) -10.5% Depreciation, amortisation and impairment (2,352) (2,416) -2.6% (2,434) -3.4% (7,259) (6,050) 20.0% Other operating expenses (235) (241) -2.5% (227) 3.5% (761) (746) 2.0% Operating expenses (20,104) (23,827) -15.6% (20,319) -1.1% (58,221) (63,174) -7.8% Operating income before cost of risk 67,479 54,636 23.5% 68,244 -1.1% 209,437 153,456 36.5% Cost of risk 6,745 1,239 NMF (2,536) NMF (91,691) (7,159) NMF Net operating income before non-recurring items 74,224 55,875 32.8% 65,708 13.0% 117,746 146,297 -19.5% Net non-recurring items (1) (3) -66.7% 32 NMF (1,375) (75) NMF Profit before income tax and one-off costs 74,223 55,872 32.8% 65,740 12.9% 116,371 146,222 -20.4% Income tax expense (7,619) (7,444) 2.4% (4,246) 79.4% (10,018) (14,477) -30.8% Profit adjusted for one off costs 66,604 48,428 37.5% 61,494 8.3% 106,353 131,745 -19.3% One-off termination costs (after tax)* (4,094) NMF Profit 66,604 48,428 37.5% 61,494 8.3% 106,353 127,651 -16.7% The income statement adjusted profit in 9M19 excludes GEL 4.1min one-off employee costs (net-off income tax) related to the former CEO and executive management termination benefits LOAN YIELD 10.7% 10.2% 9.1% 8.6% COST OF CLIENT DEPOSITS 4.2% 4.0% 4.1% 3.3% 63.1% 61.2% 65.9% 53.0% 83.1% 82.3% 81.1% 82.7% 36.9% 38.8% 34.1% 47.0% 16.9% 17.7% 18.9% 17.3% 2017 2018 2019 9M20 2017 2018 2019 9M20 Net loans, GEL Net loans, FC Client deposits, FC Client deposits, GEL Currency-blended loan yield Currency-blended cost of deposits

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