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Financial Institutions Receive 4 610.9 million GEL Incomes

A total of 2379 financial entities were operating in 2017 and their declared incomes made up 4610.9 million GEL.

According to Geostat, national statistics service of Georgia, the bulk of these incomes (74%) comprises interest and related yields, 10.4% comprises commission fees and the remaining 15.6% came from other incomes.

Interest expenses of the financial companies made up 1479.7 million GEL in 2017. Expenses on salaries made up 819.9 million GEL. By the end of 2017 financial companies held 1366 million GEL in cash. Investments in fixed asserts of financial companies made up 607.5 million GEL in 2017. By the end of 2017 the balance of fixed assets made up 1426.3 million GEL.

In the reporting year, the sector registered 37 800 paid employees,including 61.4% were women. In 2017 insurance companies generated insurance premium of 413.1 million GEL, including 43.4% were health insurance, 17.7% property insurance, 15.5% land transport insurance, 7% – life insurance, 16.4% – other accidents and insurance premiums.