Georgian Banks Post 20% Profit Rise in Nine Months

Georgian banks' net profit rose 20% in the first nine months of 2026 compared with the same period of 2025, according to National Bank of Georgia data reported by JAMnews on 26 October 2026. Of 19 banks, 15 were profitable and four posted losses. CBJ has not seen the National Bank release itself, so the figures below are attributed to JAMnews.

Bank of Georgia reported the highest profit, at 1.445 billion lari, followed by TBC Bank at 1.063 billion lari, JAMnews said. By CBJ's calculation, the two largest banks together earned about 2.51 billion lari, which shows how concentrated profit is in two institutions.

A system with winners and losers

Four loss-making banks out of 19 means about one in five lenders did not make money in a year of strong sector earnings. The report does not name them, and it does not say whether losses are small start-up or restructuring costs or larger problems. A fifth of the sector in the red while profits climb 20% is a sign of uneven results, not of a uniform boom.

Context from earlier coverage

CBJ reported earlier this year on Georgian banks' 22% return on equity and the IMF's lending risks and on the sector's 23% growth. High profitability is the backdrop for the IMF's warnings about foreign-currency lending, which the earlier reports covered. The National Bank's nine-month release will show whether provisions, interest margins or fee income drove the increase; the JAMnews summary does not say.

Treat the dollar figures as rough

JAMnews gave approximate dollar equivalents of about $600 million for Bank of Georgia and about $400 million for TBC Bank. Using the cross rates quoted on ARKA's page (361.14 drams per dollar and 139.11 drams per lari, on a page that does not state its rate date), CBJ gets roughly $557 million and $409 million. The lari figures are therefore the safer reference until the National Bank publishes its own conversion. Readers comparing banks should also remember that each bank reports on its own calendar and accounting basis, so the sector data and company results can differ.

What to watch

• The National Bank's full release for the split between interest income, fees and provisions, and the names of the four loss-making banks.
• Third-quarter results from the listed groups, Bank of Georgia and TBC, which publish their own figures and may differ in scope from the sector data.
• Whether foreign-currency lending, the main risk the IMF has flagged, grows faster than lari lending.

Sources: JAMnews, 26 October 2026