Q1 2023 Georgia Capital PLC Earnings Call Transcript
Let me start with today's agenda. So I'll talk about the recent developments. Then our Chief Economist, Nino Vakhvakhishvili, will talk about macroeconomic development in Georgia, which is pretty strong, and Nino will explain why. I'll talk about Q1 performance. Giorgi Alpaidze, our CFO, will talk about the valuation and our liquidity position, including dividend income outlook, current income and also outlook going forward. In the end, I will do the wrap-up.
So let me start with the recent developments. Five major points maybe you need to know about the Q1. We had a very strong NAV growth. In lari terms, it was 3.3%. In pound terms, it was 6.4%. The growth is even greater if you mark-to-market our Bank of Georgia Holdings, would grow more than 10% in growth of NAV in terms of the sterling. Another key point, which you need to know is that NCC continued to decline, nearly 1.5 percentage point decline we had in Q1, and it's now first time below 20%, it is 19.7%. We are delivering on this on our deleveraging strategy.
Good thing was
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