Bank of Georgia Group PLC (FRA:GEB)
€ 55 -0.5 (-0.9%) Market Cap: 2.35 Bil Enterprise Value: 3.10 Bil PE Ratio: 3.12 PB Ratio: 1.06 GF Score: 82/100
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Q3 2024 Bank of Georgia Group PLC Earnings Call Transcript

Nov 12, 2024 / 02:00PM GMT
Release Date Price: €58 (+5.45%)
Nini Arshakuni
Bank of Georgia Group PLC - Head of Investor Relations

Today, we are presenting the group's consolidated results for the third quarter of 2024. As always, I'm joined on this call by the Group CEO, Archil Gachechiladze, and we'll start with our presentation, discuss the key developments as well as the highlights of the quarter. And then we'll open the floor for questions. Please be aware that this call is being recorded.

And Archil, you can go ahead now.

Archil Gachechiladze
Bank of Georgia Group PLC - Chief Executive Officer, Executive Director

Hello, everyone. Thank you for joining this call. We had a record profit in the third quarter of this year, GEL509 million, which is up 42.5% versus last year, although this year obviously includes Ameriabank from Armenia, which is a (inaudible) bank in Armenia and is progressing very well. Return on equity was 32% with a very low cost of risk of 0.2% and cost income just shy of 35%, which we feel comfortable with.

So with this, there's one other small good news that I wanted to share

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