BANKING SECTOR - I-III QUARTERS, 2016

Analysis of January-November 2016, compared to the corresponding period in 2015:

- Net profit of commercial banks increased by 25.1% (114 mln GEL) and amounted to 567 mln GEL;

- The volume of deposits increased (9.4%), as did the volume of loans (7.9%) (adjusted for exchange rate);

- The proportion for which construction (by 2.8 percentage points), financial intermediation (2.5 percentage points) and hotels and restaurants (3.0 percentage points) were responsible for total loans increased;

- The volume of non-performing loans increased by 9.5%, which is mostly due to depreciation of GEL exchange rate.

According to data for November 2016, there are 16 banks in the Georgian banking sector.

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Policy and Management Consulting Group (PMCG) is development consulting company, specializing in policy advising, capacity building, social infrastructure development, and corporate management. PMCG is primarily working in the regions of Eastern Europe, the Caucasus, Central Asia, the Middle East and Africa, with bilateral and multilateral development institutions, such as: USAID, European Commission, World Bank, UNDP, ADB, JICA and others.