Bank of Georgia Group Plc (GB:BGEO) has released an update.
Bank of Georgia Group PLC reported a significant increase in profits for the third quarter of 2024, with a 42.5% year-over-year rise to GEL 509.3 million and a return on equity of 32.1%, driven by strong performances in its Georgian and Armenian financial services. The company’s overall loan book grew by 63.4%, boosted by the consolidation of Ameriabank and robust growth in Georgian Financial Services. Additionally, the bank was recognized as the World’s Best Digital Bank 2024, highlighting its successful digital transformation and customer engagement strategies.
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