Investor Presentaiton
Income statement highlights
Change
GEL thousands
4Q23
4Q22
3Q23
y-o-y
Change
q-o-q
Change
FY23
FY22
y-o-y
INCOME STATEMENT HIGLIGHTS
Net interest income
427,661
334,645
27.8%
419,976
Net fee and commission income
Net foreign currency gain
Net other income
Operating income
Operating expenses
114,066
97,932
97,251
125,395
16.5%
-22.4%
18,260
657,238
26,930
584,902
-32.2%
1.8%
118,949 -4.1%
97,790 -0.6%
5,738 218.2%
434,482
365,711
1,615,446 1,182,335 36.6%
317,491
466,094
36.8%
-21.5%
12.4%
642,453
2.3%
114,735
2,530,374 2,002,012
36,092 217.9%
26.4%
(225,205)
(181,062)
24.4%
Profit from associates
254
128
98.4%
(185,314) 21.5%
302 -15.9%
(754,053)
(641,186)
17.6%
1,456
754
93.1%
Operating income before cost of risk
432,287
403,968
Cost of risk
(27,810)
(52,675)
Net operating income before non-recurring items
404,477
351,293
15.1%
7.0% 457,441
-47.2% (35,805) -22.3%
421,636
-5.5%
1,777,777
1,361,580
30.6%
-4.1%
(144,064)
1,633,713
(119,068) 21.0%
Net non-recurring items
329
-100.0%
58
-100.0%
Profit before income tax expense and one-off items
404,477
351,622
15.0%
421,694
Income tax expense
(75,891)
(25,723)
Profit adjusted for one-off items
328,586
325,899
One-off items
Profit
Basic earnings per share
Diluted earnings per share
1,524
330,110
7.53
311,825
637,724
14.10
7.31
13.61
195.0%
0.8%
-99.5%
-48.2%
-46.6%
-46.3%
-4.1%
(64,330) 18.0%
357,364 -8.1%
357,364
8.12
-7.6%
-7.3%
1,242,512
1,038
1,633,713 1,243,550
(258,971)
1,374,742
22,585
1,397,327
31.5%
31.30
-100.0%
31.4%
(111,376) 132.5%
1,132,174 21.4%
311,825 -92.8%
1,443,999 -3.2%
30.99
1.0%
7.92
-7.7%
30.43
30.33
0.3%
Due to the settlement of a legacy claim, the fair value revaluation of the receivable resulted in a one-off other income of GEL 1.5 million posted in 4Q23 and one-off other income of GEL 22.6 million posted in
FY23. Net other income was adjusted for these one-offs. Due to the settlement of the same legacy claim, 4Q22 and FY22 net other income was adjusted for a one-off GEL 391.1 million. 4Q22 and FY22 income tax
expense was adjusted for a one-off GEL 33.7 income tax expense due to an amendment to the corporate taxation model in Georgia. As a result, ROAE was adjusted for one-off other income and one-off tax
expense where applicable and Cost:income ratios were adjusted for one-off other income where applicable.
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