Earnings per share rose 17.6 per cent over the full year at Bank of Georgia, the FTSE 250-listed holding bank of JSC Bank of Georgia and its subsidiaries, to GEL 5.22 (£2.04).
Year-on-year revenue rose 14.9% to GEL 498.3m (£192.4m) and in the fourth quarter of 2012, revenue was up 15.5% against the corresponding period in 2011.
Pre-tax profit for continuing operations rose 23.7% and profit for the period increased 32.2% to GEL 43.8m (£17.1m).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commenting on the year ahead, Irakli Gilauri, Chief Executive Officer of Bank of Georgia Holdings PLC and JSC Bank of Georgia, said: "In 2013, we do not expect any changes to the fundamentals of our business strategy. We intend to continue to focus on the Georgian market, with retail banking and corporate banking continuing to drive profitability.
"The full effects of our recent scaling up of the business are still to be realised, as more customers shift to electronic channels. The introduction of a sophisticated CRM [Content Relationship Management] system will further enhance product penetration and boost revenues per client, thus further improving our efficiency."
MF
-
Are you one of 15 million people at risk of retirement poverty?Two-fifths of people in the UK aren’t on track for a minimum lifestyle in retirement, new data shows. Are there steps you can take to boost your pension?
-
150 banking hubs now open across UK – is there one near you?As the 150th banking hub opens its doors, a Post Office deal that offers basic banking services has also been extended until 2030. We explain what this means for you
