Bank of Georgia Group Financial Results
Investing for growth while maintaining the focus on efficiency
Operating expenses
+11.5%
+9.3%
+14.8%
Cost to income ratio*
All currency data are in GEL m unless otherwise stated
181
179
344
28
1578
161
161
164
1
2
1
32
32
1
30
299
58
27
28
2
52
32.5%
37
31
55
445
2
46
85
38
39
30.6% 31.0%
71
29.1%
26.9%
103
199
95
95
94
96
174
33.6%
27.9%
2Q22
3Q22
4Q22
1Q23
2Q23
1H22
1H23
2Q22
3Q22
4Q22
1Q23
2Q23
1H22
1H23
Salaries and other employee benefits Administrative expenses
Depreciation, amortisation
and impairment
Other operating expenses
*4Q22 figures adjusted for a one-off GEL 391.1m other income and 2Q23 and 1H23 figures were adjusted for a one-off GEL 21.1m other income, related to the settlement of an outstanding legacy claim
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