Portfolio Valuation and Ameriabank Acquisition Update
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
May/18
Jun/18
Jul/18
Aug/18
Sep/18
Oct/18
Nov/18
Dec/18
Listed
Portfolio
BANK OF GEORGIA
BANK OF GEORGIA OVERVIEW
http://bankofgeorgiagroup.com/
Stock price performance
Jan/19
Feb/19
Mar/19
Apr/19
May/19
Jun/19
Jul/19
Aug/19
Sep/19
Oct/19
Now/19
61/AON
Dec/19
Jan/20
Feb/20
Mar/20
Apr/20
May/20
Jun/20
Jul/20
Aug/20
Sep/20
Oct/20
Nov/20
Dec/20
Jan/21
Feb/21
Mar/21
Apr/21
May/21
Jun/21
Jul/21
Aug/21
Sep/21
Oct/21
Nov/21
Dec/21
Jan/22
Feb/22
Apr/22
Apr/22
May/22
Jun/22
Jul/22
Aug/22
Sep/22
Oct/22
Nov/22
Dec/22
Jan/23
Feb/23
Mar/23
Apr/23
May/23
Jun/23
Jul/23
Aug/23
Sep/23
Oct/23
GBP 39.8
as of 31-Dec-23
Financial metrics (GEL million)
Selected operating metrics
30-Sep-22
30-Sep-23
Change
Number of monthly active customers (retail) ('000)
1,546
1,739
+12.5%
3Q22
3Q23
Change
Number of transactions in mBank, iBank and sCoolApp
(million)
44.4
62.6
Profits & ROAE
GEL 18.4 billion gross loan portfolio breakdown* | 30 September 2023
Corporate loans,
GEL 5,732 million, 31%
Retail loans,
GEL 8,224 million, 45%
40.8%
SME loans,
GEL 4,482 million, 24%
* Bank of Georgia Standalone.
Loan book growth
Dividend record (GEL million)
Loan book growth (nominal)
Loan book growth (constant currency basis)
Payout ratio4:
ROAE¹
21.9%
22.2% 25.2% 26.4% 26.1% 13.0% 25.8%
32.4%2 31.1%5
36% 33% 34%
32%
30% 30%
27.0%
24.5%
35% 37%
535
1,1322
1,0465
20.9%
21.4%
18.9%
19.8%
19.0%
GEL million
17.4%
17.6%
Share buyback
16.1%
22.0%
727
19.0%
13.9% 12.9%
Total dividend paid for the year
10.2%
257
514
370
379
274
296
295
15.9%
4.3%
1.5%
NIM
NPL coverage
2015 2016 2017 2018 2019 2020 2021 2022 3Q22 3Q23
Change
y-o-y
7.7% 7.4% 7.3% 6.5% 5.6% 4.6% 4.9% 5.4% 5.3% 6.6% +1.3 ppts
83.4% 86.7% 92.7% 90.5% 80.9% 76.3% 95.5% 66.4% 89.4% 69.1% -20.3 ppts
Loan portfolio
Cost/income2,3
5,367 6,682 7,741 9,398 11,931 14,192 16,169 16,862 16,163 19,011 +17.6%
35.5% 37.7% 37.7% 36.7% 37.8% 39.7% 37.2% 32.0% 30.6% 28.8%
-1.8 ppts
2015 2016 2017
2018 2019 2020
2021
2022
3Q23
2015 2016 2017
2018
2019
2020 2021
2022
9M23
2013 2014 2015 2016 2017 2018 2019
Georgia Capital PLC | 1. 2019 ROAE and profit are adjusted for termination costs of the former CEO and executive management, while 2018 ROAE is adjusted for demerger related expenses, one-off impact of re-measurement of deferred tax balance and termination costs of the former CEO.
2.2022 Adjusted for a one-off GEL 391.1m of other income due to the settlement of an outstanding legacy claim, and a one-off GEL 79.3m tax expense due to an amendment to the current corporate taxation model in Georgia.
3. 2019 cost/income ratio adjusted for GEL 12.4 million one-off employee costs (gross of income tax) related to termination benefits of the former executive management
4. For the purpose of total payout ratio calculation, total buyback amount is divided by outstanding shares before the beginning of the respective programme.
5. Adjusted for a one-off GEL 21.1 million other income related to the settlement of an outstanding legacy claim.
72
80
98
102
122
124
188
Interim
dividends/buyback
73
196
347
124
62
184
40
134
84
2020 2021
2022
1H22 1H23
445
GEORGIA
CAPITALView entire presentation