Bank of Georgia Group PLC BOGG PLC announces JSC BOG profits for 2023 (7902A)
January 24 2024 - 5:00AM
UK Regulatory
TIDMBGEO
RNS Number : 7902A
Bank of Georgia Group PLC
24 January 2024
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 Head of Investor
CEO Relations
+995 322 444 444
+44 203 178 4034 (7515)
moliver@bgeo.com ir@bog.ge
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