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Bank of Georgia Group Plc (BDGSF)
OTHER OTC:BDGSF
Earnings Data
Report Date
May 20, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
12.72Last Year’s EPS
―Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial performance: record quarter and year results, double-digit loan and deposit growth, exceptional digital engagement and high returns on equity. Armenia emerged as a standout growth engine while Georgian operations continued robustly. Key challenges include margin pressure from excess liquidity, higher operating costs in parts of the group, some portfolio mix shifts toward unsecured lending and geopolitical uncertainty. Management has strong capital buffers, is taking steps to bolster capital (EUR 30m + USD 50m AT1), and expects operating leverage to trend neutral-to-positive. On balance the positive achievements, growth, and capital position substantially outweigh the listed challenges.Company Guidance
Record Quarter and Full-Year Profitability
Group net income grew 20.9% year-over-year to just shy of GEL 2.2 billion for the full year; return on equity of 28.4% for the year and above 30% in the quarter (quarter ROE ~30.1%). Profit before one-offs rose 22.7% in the quarter.
Strong Loan and Deposit Growth
Group loan portfolio grew c.19.7% year-over-year with quarter growth of 5.8% (Georgia contributed ~4.5% q/q, Armenia ~8.5% q/q). Group deposits grew 17.3% year-over-year.
Outstanding Performance in Armenia
Ameriabank (Armenia) delivered exceptional growth: Q4 net profit +38% (stand-alone annualized net profit ~+24%), loan portfolio +28% year-over-year (constant currency), time deposits +33% y/y, total customer attractions +22% (constant currency), ROE ~26.8%.
Strong Georgian Franchise and Digital Momentum
Georgia Q4 net profit ~GEL 460 million (+17% y/y) with ROE 32.7%; loan book growth 16.1% (above 10% guidance). Digital MAUs +15% y/y to 1.8 million; daily active users +24% to ~1 million; digital sales reached 71% of all products sold; NPS at record high 76.
Net Interest Income and Fee Growth
Net interest income grew 19.9% in the quarter and 25.9% for the year. Net fee & commission income was up 33.8% in Q4 (noting part of this was driven by a new multi-year card system deal); management expects net fee growth in the high teens (15–20%) going forward.
Low Cost of Risk and Healthy Asset Quality
Cost of risk was low at 0.3% in the quarter and 0.4% for the full year; NPL ratio remained modest at 2.1% overall.
Capital, Liquidity and Funding Enhancements
Strong capital buffers across the group; Ameriabank strengthened capital with EUR 30m (recognized in Jan) and issued inaugural USD 50m AT1 notes (adding ~86 bps). Both Georgian Lari and Armenian Dram stable; country FX reserves at record levels (Georgia USD 6.2bn, Armenia USD 5.1bn).
Macro Tailwinds in Core Markets
Georgia GDP grew 7.5% in 2025 and Armenia 7.2%; 2026 growth guidance remains strong (Georgia ~6%, Armenia 5.5–6%); inflation expected near central bank targets (~3%), and both countries have strengthened fiscal and external buffers.
Digital/Tech Capabilities and Operational Efficiency
Large in-house tech capability (1,000+ tech specialists); core systems largely homegrown and cloud-ready (modular/API-based); 96% of Ameriabank retail loans in Q4 were underwritten via online/ML models, materially lowering per-loan cost and enabling broad outreach.
Dividend Increase and Capital Discipline
Declared dividend increased 16.7% for the full year; management maintains dividend policy range of 30–50% but will prioritize funding high-growth opportunities and opportunistic M&A.
BDGSF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BDGSF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $138.32 | $146.47 | +5.89% |
Nov 20, 2025 | $101.54 | $104.99 | +3.40% |
Aug 20, 2025 | $101.53 | $98.56 | -2.92% |
May 15, 2025 | $85.62 | $79.11 | -7.60% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Bank of Georgia Group Plc (BDGSF) report earnings?
Bank of Georgia Group Plc (BDGSF) is schdueled to report earning on May 20, 2026, Before Open (Confirmed).
What is Bank of Georgia Group Plc (BDGSF) earnings time?
Bank of Georgia Group Plc (BDGSF) earnings time is at May 20, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BDGSF EPS forecast?
BDGSF EPS forecast for the fiscal quarter 2026 (Q1) is 12.72.