Bank of Georgia Financial Overview
The leading bank in Georgia
Leading market position: No. 1 bank in Georgia by assets (35.6%), loans
(34.5%), client deposits (36.9%) and equity (35.4%)¹
Underpenetrated market with stable growth perspectives: Average real
GDP growth for 2004-2011 of 13.8% CAGR. IMF estimates 6.0% growth for
2012. Gross loans/GDP grew from 9.8% to c.31.9% over the period, still below
regional average; Total deposits/GDP grew from 10.0% in 2004 to 30.3% in
2011
Strong brand name recognition and retail banking franchise: Offers the
broadest range of financial products to the retail market through a branch
network of 164 branches and 431 ATMs to approximately one million customers
as of March 2012
The only Georgian company with credit ratings from all three global rating
agencies: S&P: 'BB-', Moody's: 'B1/Ba3' (foreign and local currency), Fitch
Ratings: 'BB-'; outlooks are 'Stable'
High standards of transparency and governance: First and still the only
entity from Georgia to list on the London Stock Exchange since 2006 (in the
form of GDRs since 2006 and premium listing since February 2012)
Experienced management with deep understanding of local market and a
strong track record:
Sustainable growth combined with strong capital,
liquidity and strong profitability
(US$ mln)²
Total Assets
Loans to customers, net
Customer funds³
Shareholders' equity
Revenue
Profit³
Change
Q1 2012
2011
2010 2011/2010
2,750.8
2,793.6
2,258.8
23.7%
1,634.8
1,566.7
1,334.5
17.4%
1,581.5
1,637.9
1,142.9
43.3%
617.3
486.6
391.1
24.4%
70.4
264.2
195.5
35.1%
24.0
90.4
46.6
93.8%
31.1%
34.7%
30.9%
3.5%
3.5%
2.4%
ROAE5
18.2%
20.6%
13.5%
Tier I Capital Adequacy Ratio (BIS)6
Total Capital Adequacy Ratio (BIS)6
Leverage ratio
23.2%
19.9%
17.5%
29.7%
28.5%
26.6%
3.5x
4.7x
4.8x
Liquid assets/total liabilities
ROAA5
Bank of Georgia Holdings plc. (BGH) (LSE: BGEO) a UK-incorporated
holding company of JSC Bank of Georgia. As of 31 March 2012, BGH's
shareholder structure was as follows:
7.1%
2.6%
Market capitalisation (US$ mln)
Total assets (US$ mln)
2004
45.2
31 March 2012
616.6*
Change
13.6x
199.0
2,750.8
13.8x
Market share by total assets
19%
36%
89%
*Market capitalisation for Bank of Georgia Holdings plc., the Bank's holding company, as of 11 May 2012
1 Market data based on standalone accounts as published by the National Bank of Georgia (NBG) as of 31 December 2011
www.nbg.gov.ge
2 US$/GEL 1.66 as at 31 March 2012
3 Amounts due to customers
4 Liquid assets include cash and cash equivalents, cash placed with credit institutions and NBG CDs and Georgian government treasuries
5 Profit from continuing operations used for the calculation of ROAA and ROAE
6 Capital Adequacy ratios as of 31 March 2012 include EBRD and IFC loan conversions and are presented on a consolidated basis
90.3%
Institutional Investors
■Management & Employees*
■Management Trust (Unvested
and unawarded share options)
Selected Institutional Shareholders
East Capital
Firebird Management LLC
International Finance Corporation
European Bank for Reconstruction and Development
Prosperity Capital Management Limited
OP-Pohjola Group Central Cooperative
Artio International Equity Fund
* Includes shares held by and share options allocated for the Bank's Supervisory and Management
Board members and certain other employees of the Bank and its subsidiaries
BGEO to become FTSE All Share Index component in June 2012;
Candidate for inclusion in the FTSE 250
BANK OF GEORGIA
www.bogh.co.uk
www.bankofgeorgia.ge/ir
May 2012
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