This presentation contains forward-looking statements, including, but not limited to, statements concerning expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position and future operations and development. Although Bank of Georgia Group PLC believes that the expectations and opinions reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations and opinions will prove to have been correct. By their nature, these forward-looking statements are subject to a number of known and unknown risks, uncertainties and contingencies, and actual results and events could differ materially from those currently being anticipated as reflected in such statements. Important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, certain of which are beyond our control, include, among other things: macro risk, including domestic instability; geopolitical risk; credit risk; liquidity and funding risk; capital risk; market risk; regulatory and legal risk; conduct risk; financial crime risk; information security and data protection risks; operational risk; human capital risk; model risk; strategic risk; reputational risk; climate-related risk; and other key factors that could adversely affect our business and financial performance, as indicated elsewhere in this document and in past and future filings and reports of the Group, including the 'Principal risks and uncertainties' included in Bank of Georgia Group PLC's Annual Report and Accounts 2022. No part of this document constitutes, or shall be taken to constitute, an invitation or inducement to invest in Bank of Georgia Group PLC or any other entity within the Group, and must not be relied upon in any way in connection with any investment decision. Bank of Georgia Group PLC and other entities within the Group undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. Nothing in this document should be construed as a profit forecast.
2
The Group delivered a strong performance in 1Q23
Profit
ROE
C/I
NPS
Digital MAU
GEL 301.3M
27.9%
29.1%
58
1.2M
up 25.3% y-o-y
up 31.6% y-o-y
up 55.7% y-o-y
3
Contents
MACROECONOMIC HIGHLIGHTS
GROUP OVERVIEW AND STRATEGY 1Q23 RESULTS
4
Economic growth remained strong in 1Q23
Real GDP y-o-y growth
18.0%
14.6%
10.6%
2011-2022 2021 2022 1Q23E average
4.7% 10.5% 10.1% 7.2%
11.6%
11.0%
10.5%
9.7%
9.3%
8.8%
7.3%
8.3%
8.4%
7.2%
5.8%
2.6%
Key drivers of growth in 1Q23:
Resilient inflows from exports, remittances, and tourism
Increased activity in construction, transport and logistics, trade and hospitality sectors
Strong investment spending and recovery in consumption on the back of lower inflation
Bank of Georgia Group plc published this content on 17 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2023 06:19:08 UTC.
Bank of Georgia Group PLC is a United Kingdom-based holding company that provides banking, leasing, brokerage, and investment management services to corporate and individual customers. The Companyâs Retail Banking segment provides consumer loans, mortgage loans, overdrafts, credit cards and other credit facilities, funds transfers and settlement services, and handling of customers deposits for both individuals and legal entities. Its Corporate Investment Banking segment comprises corporate banking and investment management operations in Georgia. Corporate Banking provides loans and other credit facilities, funds transfers and settlement services, trade finance services, documentary operations support and handles savings and term deposits for corporate and institutional customers. The Investment Management business provides brokerage services through Galt & Taggart. Its BNB segment comprising JSC Belarusky Narodny Bank, which provides retail and corporate banking services in Belarus.