Bank of Georgia Group reports strong first quarter earnings

Bank of Georgia Group Plc (GB:BGEO) has released an update.

Bank of Georgia Group PLC reported a solid first quarter of 2024, reporting a 22.5% year-on-year profit increase to GEL 369.1 million and a strong adjusted average return on equity of 27.7%. The acquisition of Ameriabank was finalized in March, contributing to the growth of the Group’s assets and book value per share. Amid favorable macroeconomic conditions and strategic expansion, the bank maintains a strong capital and liquidity position, with positive prospects for continued growth and profitability across its operations in Georgia and Armenia.

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