Bank of Georgia Financial Analysis

STABLE COST OF FUNDING Cost of Customer Funds | quarterly Cost of Customer Funds | full-year Banking Business Banking Business 120% 3.5% 3.6% 4% 120% 3.4% 4.3% 5% 3.8% 3.5% 3.5% 100% 100% 4% 3% 80% 80% 3% 69.5% 65.6% 67.5% 60% 2% 60% 74.9% 69.5% 67.5% 76.8% 2% 40% 40% 1% 20% 1% 30.5% 34.4% 32.5% 20% 25.1% 30.5% 32.5% 23.2% 0% 0% 0% 0% 4Q17 3Q18 4Q18 2015 2016 2017 2018 Client deposits, FC, consolidated Client deposits, GEL, consolidated Currency-blended cost of client deposits, annualised I Client deposits and notes, FC, consolidated Client deposits and notes, GEL, consolidated Currency-blended cost of client deposits and notes Cost of Funds | full-year Cost of Funds | quarterly Banking Business Banking Business 6% 6% 5.0% 5.0% 5.1% 5.0% 4.8% 4.7% 4.7% 5% 5% 4% 4% 3% 3% 2% 2% 1% 1% 0% 0% 4Q17 3Q18 4Q18 2015 2016 2017 2018 BANK OF GEORGIA 16

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