With the Georgian economy having grown 6 per cent in the first half, the former Soviet state’s leading bank - Bank of Georgia (BGEO) - has been growing fast. The lender’s retail loan book, for example, jumped 21 per cent in the year to end-June and group pre-tax profit rose 10 per cent to GEL123m (£43m).
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But pre-tax profit at the corporate business slumped 43 per cent to GEL23.5m amid competitive conditions. While the bank’s share price has continued to look volatile as weak sentiment towards emerging markets - as well as investor nervousness arising from the Russia-Ukraine crisis - has taken a toll.
