Bank of Georgia - BGEO - Share Chat

3rd quarter results bank of Georgia

Moderate bank lending growth

“Bank lending slowed during the third quarter, resulting in a 13.7% year-on-year growth on a constant currency basis in 3Q22 vs 18.7% y-o-y growth in the first half of the year. Tighter lending conditions driven by higher interest rates on FX loans and the NBG’s recent decision to reduce maximum tenor on uncollateralized consumer loans from four to three years have weighed on credit demand. As growth is driven by local currency lending, the dollarisation of bank loans in Georgia has reduced to 45.1%.”

Seem to be suggesting that growth is slowing and at the same time as result of them tightening lending criteria. Aim to increase lending by 10% at least and have increased by 13%
Profit increase 56% 3rd quarter 22 over 3rd quarter 21. Share price up 3%

Good reading on the economy in 3rd quarter announcements see right side of page.

@TheRaven

This could be it the day it doubles for me.
Has done so regularly mid day but I don’t count it unless it finishes the end of trading double the price I bought it at.
Its up 105% at the moment.

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:+1::crossed_fingers::crossed_fingers::crossed_fingers:

Hooray did it at last. 103.33 gain since April the 7th. And Georgia capital is showing some life at last. Up 14%

I’ve done a little research and there is a correlation between the share price and the GEL/£ exchange rate.
I’m now keeping a much closer eye on the exchange rate, because if the £ strengthens against the GEL, there might be a reduction in the BGEO share price.
(Pretty obvious stuff really :wink:)

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