15 commercial banks and microfinance organizations operating in Georgia have submitted their financial statements for the first two quarters of 2023 to the National Bank of Georgia. Georgian banks made a total net profit of 1.36 billion lari in the first half of this year, a 63% increase compared to the corresponding period in 2022 (836.1 million lari). The total profit of microfinance organizations in the first half of 2023 amounted to 54.7 million lari, 11% higher than for the same period last year (49.2 million lari).
Net profit is an imperfect but important indicator of a bank’s financial health. A financial organization that is consistently profitable is more stable and better able to meet its financial obligations. Therefore, net profit figures have been used to compile the following ranking of banks.
Bank profits in the first two quarters of 2023 (GEL million)
Profits of microfinance organizations in the first two quarters of 2023 (GEL million)