As of September 1, 2008, the banking sector in Georgia is represented by 21 commercial banks, including 14 foreign-controlled banks and 2 branches of non-resident banks. Compared to the beginning of the year total assets of Georgian commercial banks (in current prices) increased by 989.2 million GEL (13.7 percent) and constituted 8197.4 million GEL. However, as a result of the hostilities in August, as compared to July of the current year this figure decreased by 7.9 percent (701.5 million GEL), of which balances on correspondent accounts decreased by 35.3 percent (494.1 million GEL), investment securities – by 28.0 percent (64.5 million GEL), net loans – by 3.9 percent (211.0 million GEL), non-bank deposits, including term deposits – by 13.4 and 14.3 percent (475.6 and 258.3 million GEL, respectively).

Compared to the beginning of the year, the banking sector’s own funds (equity capital) have grown by 359.2 million GEL (24.4 percent) to equal 1830.2 million GEL, which makes up 22.3 percent of commercial banks’ net total assets. The growth of paid-in capital constituted 137.2 million GEL (30.2 percent). Compared to the beginning of the year, the number of foreign-controlled banks has increased from 12 to14 and their share in the banks’ total equity capital made up 68.6 percent.

Incomes of active commercial banks for the period from January through August reached 1094.3 million GEL and total value of expenditures amounted to 1001.2 million GEL. In the first 8 months of the current year commercial banks’ net profit equaled 67.5 million GEL, which is 9.6 million GEL (i.e. 12.5 percent) less than the indicator for the same period of last year. Profitability of the banking sector assets (ROA) equaled 1.2 percent and profitability of capital (ROE) – 5.8 percent (compared to 2.2 percent and 11.4 percent respectively for the same period of last year).

The share of five banks having the largest assets within the total amount of the banking sector assets decreased from 80.4 percent at the beginning of the year to 77.5 percent.

Current statistical information is published on the statistics page of the NBG’s website.