BOGG PLC announces JSC BOG profits for 2023
London, 24 January 2024
Bank of Georgia Group PLC announces JSC Bank of Georgia profits for 2023
Bank of Georgia Group PLC (the "Company" or the "Group") announces that its regulator, the National Bank of Georgia (the "NBG"), has published the unaudited profits of the regulated Georgian commercial banks for the full year of 2023. The unaudited profit figure which was disclosed by the NBG for JSC Bank of Georgia, the regulated banking subsidiary of the Group, for the full year 2023 is GEL 1,300.9 million. This figure is accurate, but it only represents the JSC Bank of Georgia earnings, rather than the fully consolidated Group profit, for the period.
In the nine months of 2023, JSC Bank of Georgia published profits of GEL 981.9 million, whereas the fully consolidated profit of Bank of Georgia Group PLC for the same period was GEL 1,067.2 million.
The Group will announce the release date of Bank of Georgia Group PLC's fully consolidated preliminary financial results for the fourth quarter and the full year of 2023 in due course.
The NBG has recently introduced changes to the Regulation on Disclosure Requirements for Commercial Banks within Pillar 3 approved under the Decree of the Governor of the National Bank of Georgia No.92/04 of June 22, 2017. According to the changes, the NBG has the right to publish the financial information of local commercial banks, including their financial position, profit and loss, and some key ratios, based on the information provided by banks to the NBG, no later than 30 days following the end of a month. The monthly financial information of JSC Bank of Georgia, submitted to the NBG, will be prepared based on IFRS, will be unaudited, and will be available on the NBG's website at https://nbg.gov.ge/en/page/commercial-banking-reporting.
These changed disclosure requirements relate to the Georgian regulated bank, JSC Bank of Georgia, only. The fully consolidated reporting requirements of Bank of Georgia Group PLC remain unchanged.
Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations
About Bank of Georgia Group PLC
Bank of Georgia Group PLC (the "Company" - LSE: BGEO LN) is a FTSE-250 company. Its core entity is JSC Bank of Georgia ("Bank of Georgia", "BOG", or the "Bank"), a digital banking leader in Georgia that provides a suite of banking and financial services to retail clients and businesses. By building on its competitive strengths, the Group is committed to delivering strong profitability sustainably and maximising shareholder value.
Legal Entity Identifier: 213800XKDG12NQG8VC53
For further information, please visit www.bankofgeorgiagroup.com or contact:
|
Michael Oliver |
Nini Arshakuni |
|
Adviser to the CEO |
Head of Investor Relations |
|
+44 203 178 4034 |
+995 322 444 444 (7515) |
|
ir@bog.ge |
This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund