Home / Banking / Liberty Bank completed January-August with 14,6 million GEL profit

Liberty Bank completed January-August with 14,6 million GEL profit

Liberty bank completed January-August with 14,6 million GEL profit. In the same period of last year profit equaled to 11,5 million (01/09/12 -5,4 million).

By September 1, 2014 clients’ deposits equaled to 1,3 billion GEL (01/09/13 – 1,05 billion, 01/09/12 – 703,1 million GEL), credit portfolio – 750 million GEL (01/09/13 -515,5 million, 01/09/12 – 450,3 million GEL), overall obligations – 1,09 billion GEL (01/09/13 – 1,09 billion; 01/09/12 -805,1 million).

Bank’s actives are 1,5 billion GEL, market share – 8,2%.

IN the same period of last year actives were 1,2 billion, share – 7,8% (01/09/12 -894,5 million GEL, 6,3%).

Stock capital o the bank equals to 166,2 million GEL (01/09/13 -125,4 million; 01/09/12 -89,4 million GEL).

In September 5 years completed after Lado Gurgenidze headed Liberty Bank and the bank sharply improved financial data.

In September 2009 Deposits of legal entities did not exceed to 59 million GEL, the bank did not have mortgage loan, credit card.

Soon, in 2-3 years time the bank created reserve of 19 million GEL based on the loans issued during the previous management. Considering that loss of the bank equaled to 42 million GEL due to previous management decisions, since 2008 the bank was in fact insolvent and only with efforts of regulator, investments and right management it could survive and develop. In 2008-2009 the bank had negative supervision capital, in fact had to suspend existence. Currently the bank is in the top=5 list of the profitable ones, in the top-3 list according to actives.

Due to this date the bank starts various large-scale promo campaign for the consumers.