Tracking Georgia's Economic Recovery

RETAIL BANKING HIGHLIGHTS INCOME STATEMENT HIGHLIGHTS 32 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 / (expense) 126,837 142,202 -10.8% 102,667 23.5% 347,771 410,861 -15.4% 34,744 36,696 -5.3% 22,184 56.6% 86,325 103,735 -16.8% 14,245 14,410 -1.1% 7,525 89.3% 43,404 36,214 19.9% 3,477 581 NMF 4,085 -14.9% 9,467 (1,002) NMF Operating income 179,303 193,889 -7.5% 136,461 31.4% 486,967 549,808 -11.4% Salaries and other employee benefits (40,481) (37,732) 7.3% (41,826) -3.2% (122,876) (108,296) 13.5% Administrative expenses (18,199) (17,585) 3.5% (16,898) 7.7% (55,829) (48,374) 15.4% Depreciation, amortisation and impairment (15,704) (17,973) -12.6% (17,610) -10.8% (51,203) (45,753) 11.9% Other operating expenses (510) (379) 34.6% Operating expenses (74,894) (73,669) Profit from associate 214 194 1.7% 10.3% (550) (76,884) -7.3% (1,608) (1,666) -3.5% -2.6% 113 89.4% Operating income before cost of risk 104,623 120,414 -13.1% 59,690 75.3% (231,516) 628 256,079 (204,089) 13.4% 636 -1.3% 346,355 -26.1% Cost of risk (16,238) (16,831) -3.5% (5,757) NMF (164,076) (82,760) 98.3% Net operating income before non-recurring items 88,385 103,583 -14.7% 53,933 63.9% 92,003 263,595 -65.1% Net non-recurring items 219 (575) NMF (1,249) NMF (39,959) (915) NMF Profit before income tax and one-off costs 88,604 103,008 -14.0% 52,684 68.2% 52,044 262,680 -80.2% Income tax (expense) / benefit (7,508) (14,060) -46.6% (3,214) 133.6% 493 (26,484) NMF Profit adjusted for one off costs 81,096 88,948 -8.8% 49,470 63.9% 52,537 236,196 -77.8% One-off termination costs (after tax)* (10,142) NMF Profit 81,096 88,948 -8.8% 49,470 63.9% 52,537 226,054 -76.8% The income statement adjusted profit in 9M19 excludes GEL 10.1min one-off employee costs (net of income tax) related to the former CEO and executive management termination benefits LOAN YIELD 15.1% 16.1% 12.9% 11.5% 48.8% 50.3% 43.7% 45.9% COST OF CLIENT DEPOSITS 2.9% 2.9% 2.9% 2.6% 72.1% 69.7% 68.0% 69.1% 51.2% 49.7% 56.3% 54.1% 27.9% 30.3% 32.0% 30.9% 2017 2018 2019 9M20 2017 2018 2019 9M20 Net loans, FC Currency-blended loan yield Net loans, GEL Client deposits, FC Client deposits, GEL Currency-blended cost of deposits

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