Lion Finance Group PLC · LSE:BGEO
Lion Finance — Bank of Georgia — Q3 2007 Earnings Presentation
73 slides from Lion Finance's earnings presentation, January 2008
Slide 1: Bank of Georgia Q3 2007 Results Overview
Standard & Poor’s: ‘B+/B’ Stable Moody’s: ‘B3/NP’ (FC) & ‘Ba1/NP’ (LC); Stable Fitch Ratings: ‘B+/B’ Stable LSE: BGEO GSE: GEB Berlin-Bremen Boerse: B7D1 Reuters: BGEO.L Bloomberg: BGEO.LI Bank of Georgia Q3 2007 Results Overview January 2008
Slide 2: Introduction To Bank of Georgia
Introduction To Bank of Georgia Market Leader In All The leading universal bank in Georgia Six Business Lines No.1 by assets (circa 34.0%),(1) loans (circa 30.8%),(1) deposits (circa 31.4%)(1) Investment Highlights • Retail Banking and equity (circa 33.6%)(1) • Corporate & A „leveraged play‟ on Geor
Slide 3: Q3 2007 Results Overview
Bank of Georgia Q3 2007 Results Overview Page 3 January 2008 www.bog.ge/ir
Slide 4: Q3 2007 Results Highlights
Q3 2007 Results Highlights Millions, unless otherwise noted 9 Months 2007 9 Months 2006 Growth, Y-O-Y1 Bank of Georgia (Consolidated, IFRS Based) GEL US$ GEL US$ Unaudited Unaudited Net Interest Income 90.4 54.5 42.0 24.2 115% Increasing Net Non-Interest Income 59.0 35.6 30.4 17.5 94% Operating Tota
Slide 5: Q3 2007 Performance
Q3 2007 Performance Composition of Revenue (GEL mln) Revenue Market Share* GEL mln 160 +106% 149.4 45% 40% 140 20.1 40% 120 +155% 16.6 35% 3.8 +109% 30% 100 18.4 +40% 25% 80 72.4 21% +56% 7.9 20% 60 7.9 2.7 +115% 15% 11.8 90.4 40 10% 20 42.0 5% 0 0% September 2006, YTD September 2007, YTD Net Intere
Slide 6: Q3 2007 Performance cont’d
Q3 2007 Performance cont’d Operating Cost Structure Normalised Net Operating Income GEL mln GEL mln 70.0 100 +74% +134% 90.8 58.5 60.0 90 1.3 -29% 6.7 80 50.0 6.7 +83% 70 40.0 33.6 +65% 16.4 60 1.8 30.0 3.7 4.1 +76% 50 38.8 20.0 9.3 40 +86% 27.4 10.0 30 14.7 20 0.0 September 2006, YTD September 2007
Slide 7: Composition of the Balance Sheet
Composition of the Balance Sheet Assets, +181% y-o-y (+98% YTD) Liabilities & Shareholders’ Equity GEL mln GEL mln 2,500 2,500 +98% 2,403 +98% 2,403 93 1,065 CIB +137% YTD 671 333 2,000 2,000 1,277 CIB +120% y-o-y RB +57% YTD 701 323 WM -2% YTD 64 1,500 1,500 RB +157% y-o-y 1,938 523 1,213 1,213 108
Slide 8: Diversified Loan Book...
Diversified Loan Book... Gross Loans, Q3 2007 (+82% YTD & +121% y-o-y) Gross RB Loans, Q3 2007 (+90% YTD & +145% y-o-y) RB & WM Account for 44% CC GEL 19.4 mln of Gross Loans (+12% YTD) 43% Market Consumer Loans Legacy Retail Loans GEL 103.3 mln GEL 29.7 mln Card Overdrafts & Share in Retail (+109%
Slide 9: And Conservative Provisioning Policy
And Conservative Provisioning Policy Loan Book Collateralisation NPLs/Gross Loans To Clients NPL Coverage Ratio 90.1% in Q3 2007 4.0% 180.0% 3.3% 160.0% 152.8% 3.5% 140.0% 129.9% 3.0% 120.0% 108.2% 2.5% 2.3% 100.0% 2.0% 80.0% 1.5% 1.3% 60.0% 1.0% 40.0% 0.5% 20.0% 0.0% 0.0% September 2006, YTD 2006 S
Slide 10: Diversified Funding Base
Diversified Funding Base Funding Sources, Q3 2007 Client Deposits, Q3 2007 (+90% YTD & +128% y-o-y) Other liabilities, 4.9% Demand Individual Current Interbank Deposits, 9% Accounts, 7.1% Loans, 2.9% Corporate Time & Demand International Deposits, 8.1% Borrowings, 28.6% Time Individual Time & Deposi
Slide 11: Business Overview
Business Overview Page 11 January 2008 www.bog.ge/ir
Slide 12: Q3 2007 Business Unit Results
Bank of Georgia Q3 2007 Business Unit Results Total Operating Income (Revenue) Pre-Bonus Result Net Income (GEL, ‘000) 9M ‘07 Y-O-Y 9M ‘06 9M ‘07 Y-O-Y 9M ‘06 9M 07 Y-O-Y 9M 06 Growth Growth Growth In 2007 non-banking CIB 49,057 80% 27,251 33,827 124% 15,126 22,058 136% 9,363 Total Operating RB 65,3
Slide 13: Q3 2007 Business Unit Results cont’d
Bank of Georgia Q3 2007 Business Unit Results cont’d Total Assets Total Liabilities (GEL, ‘000) 9M ‘07Y-O-Y Growth 9M‘06 9M ‘07 Y-O-Y Growth 9M ‘06 CIB 1,235,060 168% 460,989 1,081,302 166% 407,160 In 2007 6.8% of Total RB 919,474 211% 295,583 628,656 141% 261,330 Assets attributed to WM 70,084 185%
Slide 14: Business Unit Highlights
Business Unit Highlights Corporate & Investment Banking (CIB) Major new corporate client acquisitions include the UAE-based Rakeen Development, Energo Pro, a leading energy distribution company in Georgia, and GPC, the country‟s third largest pharmacy chain. Increased the number of corporate clients
Slide 15: Business Unit Highlights cont’d
Business Unit Highlights cont’d Insurance Major new corporate client acquisitions include Airzena Georgian Airlines for aviation insurance and Energo Pro, for property insurance. Wealth Management (WM) The number of private banking clients grew from 873 at the beginning of the year to 1,187 at the e
Slide 16: Q3 2007 Business Unit Results cont’d
Bank of Georgia Q3 2007 Business Unit Results cont’d CIB Revenue, PBR & Net Income RB Revenue, PBR & Net Income GEL thousands GEL thousands 70,000 65,326 60,000 49,057 60,000 50,000 50,000 40,000 33,827 40,000 31,982 30,000 27,251 29,621 30,000 22,058 20,891 20,000 15,126 20,000 9,363 8,698 10,000 1
Slide 17: Q3 2007 Business Unit Results cont’d
Bank of Georgia Q3 2007 Business Unit Results cont’d GEL thousands CIB Total Assets & Liabilities GEL thousands RB Total Assets & Liabilities 1,400,000 1,000,000 919,474 1,235,060 900,000 1,200,000 1,081,302 800,000 1,000,000 700,000 628,565 800,000 600,000 500,000 600,000 535,026 373,462 455,616 40
Slide 18: Retail Banking – No. 1 Retail Bank In Georgia
Retail Banking – No. 1 Retail Bank In Georgia New Retail Retail Loans Originated RB Loan Portfolio & Client Deposits (30 September 2007) Sub-brand GEL mln 200.0 183.3 Legacy Retail 177.5 180.0 Loans, 6% 160.0 POS 140.0 Loans, 8% 122.1 Car Loans, 6% 114.0 120.0 100.0 Current 87.3 Card Overdrafts & Mi
Slide 19: RB & WM - Continuous Increase In Loan Origination Capacity
RB & WM - Continuous Increase In Loan Origination Capacity Mortgage Loans Originated Consumer Loans Originated GEL mln GEL mln 120 +155% 114.6 2,500 +168% 140 132.5 45,000 120 42,517 40,000 100 2,000 1,941 35,000 80 100 30,000 1,500 80 25,000 60 18,621 45.0 60 20,000 1,000 49.5 40 908 15,000 40 500
Slide 20: RB Cross-Selling Gaining Momentum
RB Cross-Selling Gaining Momentum Product/Client Ratio RB Loans Penetration Rate 1,400,000 2.74 3.0 2.41 40% 1,200,000 2.22 2.5 34.0% 2.18 2.20 35% 31.8% 1,000,000 28.0% 29.1% 2.0 30% 27.5% 25.9% 800,000 1.5 25% 21.4% 600,000 20% 17.6% 15.8% 1.0 400,000 15% 11.6% 200,000 0.5 10% 0 0.0 5% 1.8% 1.9% 2
Slide 21: Leadership In Card Processing
Leadership In Card Processing Client Banks Number of Cards Serviced by Georgian Card '000s 800 706 700 • 56% ownership of 600 575 Georgian Card 247 • Migration to TietoEnator 500 456 138 Transmaster in 2005 400 370 119 • Enhanced functionality 275 84 and new product support 300 186 72 437 460 200 13
Slide 22: Superior Retail Footprint & Consumer Reach
Superior Retail Footprint & Consumer Reach 2005/Ongoing Investment Focus 116 Branches POS Internet Call Center 217 ATMs SMS Banking Banking Service Delivery • 33 flagship (full • Utility & other • Visa/MasterCard • Full transactional • 24/7 • Balances Channels service) branches payments (20 Mercha
Slide 23: Extensive Distribution Network Of 116 Branches
Extensive Distribution Network Of 116 Branches As of November 30, 2007 Page 23 January 2008 www.bog.ge/ir
Slide 24: Corporate & Investment Banking
Corporate & Investment Banking Integrated client Overview Corporate Loan Portfolio & Client Deposits (30 September 2007) coverage in the following key No.1 corporate and investment bank in Georgia sectors Circa 35% market share based on customer deposits(1) Other, 3% Circa 30% market share based on
Slide 25: Insurance Overview
Aldagi BCI (Insurance) Size of the Georgian Overview Georgian Insurance by GPW (30 September 2007) Insurance Market Small insurance market (US$52 mln GPW in 9M „07)(1)(2), but Market Shares (%) Product Breakdown (%) Personal Accident & rapidly growing due to low insurance services penetration of cir
Slide 26: Georgian Insurance Market vs. EU & CEE/CIS
Georgian Insurance Market vs. EU & CEE/CIS Insurance Premiums Per Capita vs. GDP Per Capita 800 Insurance Premium Per Capita (US$) 600 Czech Republic 400 Hungary Slovakia Poland Croatia 200 Bulgaria Russia Ukra ine Romania Popula tion: 10 million Georgia Serbia (2006E) 0 0 5,000 10,000 15,000 GDP Pe
Slide 27: Wealth Management (WM) Performance Review
Wealth Management (WM) Performance Review Private Banking Clients and Client Assets Private Banking Products Penetration US$ mln 80 1400 160% 1,187 134% 1,081 1200 140% 120% 60 943 66.4 120% 1000 106% 873 63.4 100% 92% 48.3 800 80% 83% 82% 80% 40 80% 66% 48.2 600 63% 83% 80% 60% 64% 42% 64% 460 400
Slide 28: Asset Management Review
Asset Management Review Asset Management Overview GTC Share Price Performance & MCAP Galt & Taggart Capital (GSE: GTC) 500 MCAP GEL 82.9 mln MCAP GEL 83 mln as of 30 September 2007 MCAP GEL 94.4 mln MCAP GEL 121.8mln MCAP GEL 109.1 mln 450 Consumer goods, retail, business support services, TMT 400 M
Slide 29: Galt & Taggart Securities
Galt & Taggart Securities Client Assets Under Custody Revenue, Pre-Bonus Result & Net Income US$ mln 1 GEL 000s Placement of 250 20,000 18,703 226 12,495,519 shares 18,000 & 200 15,117 200 189 16,000 Introduction to the Georgian Stock 14,000 12,000 10,926 Exchange 150 10,000 Sole Placement Agent 8,0
Slide 30: Selected Transactions 2006
Selected Transactions 2006 GEL 13,200,000 Acquisition of assets and liabilities of GEL 2,570,052 US$159,843,723 Acquisition of a 100% Admission to trading on equity interest in Block Trade the Georgian Stock Initial Public Offering Exchange on the London Stock Exchange 8,880,207 shares in the form o
Slide 31: Contact
Contact Nick Enukidze Acting Chairman of the Supervisory Board + 995 32 444 800 nicholas.enukidze@bog.ge Irakli Gilauri Chief Executive Officer +995 32 444 109 igilauri@bog.ge Macca Ekizashvili Head of Investor Relations +995 32 444 256 ir@bog.ge Page 31 January 2008 www.bog.ge/ir
Slide 32: Appendices
Appendices Page 32 January 2008 www.bog.ge/ir
Slide 33: Bank of Georgia Overview
Bank of Georgia Overview Page 33 January 2008 www.bog.ge/ir
Slide 34: Development Milestones
Bank of Georgia Development Milestones Development Period 2000-3Q 2004 4Q2004 2005 2006 2007 Growth Since YE 2003 New Management Team Takes Over The bank has tripled IFRS Consolidated (1) FY 2003 FY 2004 FY 2005 FY 2006 30 September 2007 in size under new Total Assets (e-o-p) US$111 mln US$199 mln U
Slide 35: Bank Of Georgia – Our Vision & Mission
Bank Of Georgia – Our Vision & Mission One Firm Our vision is to be recognized as the best financial services company in Georgia Strong Our mission is to create long-term value by building a relationship-driven, client-facing integrated financial management Shared expertise services company based on
Slide 36: Price Performance
Bank of Georgia Price Performance Page 36 January 2008 www.bog.ge/ir
Slide 37: Ownership Structure & Share Price Performance
Ownership Structure & Share Price Performance 30-Sep-07 GDRs* Local Shares Total % Ownership structure, September 2007 Institutional Shareholders 17,217,597 5,688,425 22,906,022 84.4% Individual Shareholders - 1,866,727 1,866,727 6.9% Management and Employees 1,499,500 881,850 2,381,350 8.8% The sec
Slide 38: 2006-2007 Price Performance
2006-2007 Price Performance Bank of Georgia Price vs. CIS Banks 2007 Price Bank of Georgia Price vs. Selected MSCI Indices, 2006 Performance Bank Bank of of GeorgiaPrice Georgia Price (US$) Ukrgazbank MSCI EM Russia Price Index (US$) Raiffeisen Aval Bank MSCI EM Eastern Europe Price Index (US$) Ukra
Slide 39: Analyst Coverage
Analyst Coverage Date of Analyst Email Recommendation Recommendation David Nangle Dnangle@rencap.com BUY/US$45.2 18 December 2007 Date of Analyst Email Recommendation Recommendation Andrzej Nowaczek andrzej.nowaczek@uk.ing.com BUY/US$44.7 13 November 2007 Date of Analyst Email Recommendation Recomme
Slide 40: Our Team
Our Team Page 40 January 2008 www.bog.ge/ir
Slide 41: Our Team
Our Team Supervisory Board Nicholas Enukidze, 37, Acting Chairman ABN AMRO, Concorde Capital, Global One MBA, University of Maryland Ian Hague, 46, Member Firebird Management LLC, United Nations Secretariat MA, Monterey Institute of International Studies Allan Hirst, 58, Member Citigroup MBA, Univer
Slide 42: Our Team Cont’d
Our Team Cont’d Commercial Banking, Georgia Galt & Taggart Asset Management Bidzina Bejuashvili, 37, Chief Executive Officer Irakli Gilauri, 31, Chief Executive Officer JP Morgan Chase, UniCredit, RZB EBRD MA Degree in Economics, Boston University MSc, Cass Business School of City University Eli Eno
Slide 43: Ukraine Update
Ukraine Update Page 43 January 2008 www.bog.ge/ir
Slide 44: UBDP Update
UBDP Update Bank of Georgia Team Leading The Transition Sulkhan Gvalia Spearheading integration of UBDP with Bank of Georgia group; Deputy CEO of Bank of Georgia since January 2005; One of the founders of TbilUniversalBank (“TUB”), acquired by Bank of Georgia in December 2004 Went through all aspect
Slide 45: UBDP IFRS, Unaudited, Income Statement
UBDP IFRS, Unaudited, Income Statement Period Ended 9 Months, 2007 IFRS Based US$ GEL Thousands, unless otherwise noted (Unaudited) Interest Income 19,913 33,015 Interest Expense 10,170 16,863 Net Interest Income 9,742 16,152 Fees & Commission Income 2,736 4,537 Fees & Commission Expense 437 724 Net
Slide 46: UBDP IFRS, Unaudited Balance Sheet
UBDP IFRS, Unaudited Balance Sheet 30-Sep-07 IFRS Based US$ GEL Thousands, unless otherwise noted (Unaudited) Cash And Cash Equivalents 7,344 12,177 Loans And Advances To Credit Institutions 27,682 45,896 Mandatory Reserves With NBG 10,626 17,619 Other Accoutns With NBG - - Balances With And Loans T
Slide 47: Georgian Banking Sector – Key Trends 2006/2007
Georgian Banking Sector – Key Trends 2006/2007 Page 47 January 2008 www.bog.ge/ir
Slide 48: Georgian Banking Sector – Key Trends 2006/2007
Georgian Banking Sector – Key Trends 2006/2007 GEL/US$ Growth Market Share (YE 2006) Market Share (September 2007) US$ mln YE 2005 YE 2006 Sep - 07 As % of GDP* 2006 Y-O-Y 2007 YTD Top 5 Banks Bank of Georgia Top 5 Banks Bank of Georgia Period End Total Assets 1,421 2,467 4,025 30.8% 65.9% 57.9% 80.
Slide 49: Market Share Evolution
Bank of Georgia Market Share Evolution Total Assets Loans Deposits Equity Sep-07 34.0% Sep-07 30.8% Sep-07 31.4% Sep-07 33.6% 1H 2007 32.2% 1H 2007 30.0% 1H 2007 27.7% 1H 2007 36.4% YE 2006 27.9% YE 2006 26.5% YE 2006 24.5% YE 2006 39.9% YE 2005 17.8% YE 2005 18.2% YE 2005 19.0% YE 2005 18.7% 0% 20%
Slide 50: Peer Group’s Market Share In Total Assets
Peer Group’s Market Share In Total Assets Peer Group’s market shares in Total Assets, September 2007 Total asset growth YTD 2007 +92% +75% +10% +15% +26% +26% +68% 40% 44% 29% 2% 3% 4% 3% 15% Incremental market share YTD 2007 GEL/US$ 35% 34.0% Period End 30% YE 2005= 1.79 25% 27.9% 24.9% YE 2006 = 1
Slide 51: Peer Group’s Market Share In Gross Loans
Peer Group’s Market Share In Gross Loans Peer Group’s market shares in Gross Loans, September 2007 Gross Loan growth YTD 2007 +79% +81% +4% +12% +37% +30% +81% 39% 33% 1% 3% 6% 4% 14% Incremental market share YTD 2007 GEL/US$ 35% 30% 30.8% Period End 25% 26.5% 26.1% YE 2005= 1.79 20% 22.2% YE 2006 =
Slide 52: Peer Group’s Market Share In Deposits
Peer Group’s Market Share In Gross Loans Peer Group’s market shares in Deposits, September 2007 Deposit growth YTD 2007 +87% +43% +21% +18% +14% -7% +59% 46% 23% 5% 4% 3% NMF 18% Incremental market share YTD 2007 GEL/US$ 35% Period End 30% 31.4% YE 2005= 1.79 25% 24.5% 24.8% 24.3% YE 2006 = 1.71 20%
Slide 53: The Georgian Financial Services Sector – Overview Cont’d
The Georgian Financial Services Sector – Overview Cont’d Banking Sector Assets & ROA All other segments of the financial services sector small GEL million 8,000 3.9% 3.9% 4.0% and dominated by banks, very open to foreign 7,000 3.1% 3.4% 6,674 3.5% ownership 6,000 2.8% 3.0% 5,000 3.0% 5,599 2.8% 2.7%
Slide 54: Market Potential And High Degree Of Concentration
Market Potential And High Degree Of Concentration The highest degree Market Shares of Top 5 & Top 3 Banks by Assets (2006) Gross Loans to GDP (%, 2006) of market 90% 80% 80% Israel 104% concentration in 80% South Africa 89% CEE benefits 70% 64% 65% 63% 61% 58% 55% 58% 57% Chile 75% large, entrenched
Slide 55: Georgian Banking Sector vs. Peer Countries
Georgian Banking Sector vs. Peer Countries Market Shares of Top 5 & Top 3 Banks by Loans (2006) Debit Cards Per Thousands Of People (2006) 90% 83% 800 733 74% 698 80% 659 66% 64% 64% 700 632 70% 58% 57% 55% 60% 49% 52% 52% 48% 47% 600 50% 39% 43% 41% 41% 504 40% 33% 37% 29% 500 445 30% 378 20% 400 1
Slide 56: The Georgian Banking Sector In The Regional Context
The Georgian Banking Sector In The Regional Context Banking Assets Per Capita Gross Loans Per Capita Deposits Per Capita YE 2006E (US$) YE 2006E (US$) YE 2006E (US$) Czech Republic 8,472 Czech Republic 14,685 Czech Republic 5,726 Georgia Georgia 292 Georgia Georgia 531 Georgia Georgia 337 Greece 26,
Slide 57: The Georgian Economy
The Georgian Economy Page 57 January 2008 www.bog.ge/ir
Slide 58: The Georgian Economy – Key Numbers
The Georgian Economy – Key Numbers 0% Import tariff on almost all goods 0 Score in difficulty of the hiring index in the 2008 Survey of Doing Business 0 Score in difficulty of the firing index in the 2008 Survey of Doing Business 0.71 Energy consumption per unit of GDP (TOE/US$) estimated for 2006 -
Slide 59: The Georgian Economy cont’d
The Georgian Economy cont’d Gross Domestic Product Components of GDP, 9M 2007 14,000 14% 12,000 +160% 12% Trade, 13.1% 10,000 10% US$ mln 8,000 8% Other, 29.4% Public 6,000 6% Adminsitration, 4,000 4% 11.7% 2,000 2% 0 0% Transport & 2003 2004 2005 2006 2007E 2008F Financial Communications, Intermedi
Slide 60: The Georgian Economy cont’d
The Georgian Economy cont’d Privatization, 2000-2008F FDI, 2003-2008F 700 618 1,600 16% 603 600 1,400 14% 1,200 1,400 12% 500 1,000 1,000 1,144 10% 387 US$ mln 400 800 8% 312 600 6% 300 539 400 490 4% 336 200 200 2% 67 0 0% 100 13 25 24 2003 2004 2005 2006 2007E 2008F 3 0 FDI, US$ mln (LHS) FDI as %
Slide 61: Trade Structure
Trade Structure WTO member Import Structure by Country, 9M 2007 Export Structure by Country, 9M 2007 since 2001 No quantitative Kazakhstan, 1% Others, 7% restrictions on Turkmenistan, Armenia, 1% trade 3% EU Bulgaria, 3% China, 1% Other, 25% Simplified Countries, 23% customs regime United Arab Unite
Slide 62: Key Drivers Of Economic Growth
Key Drivers Of Economic Growth Export-led growth with sufficient diversity Rapidly increasing domestic consumption Agricultural product exports of US$255 mln in 2006 and estimated at High consumer confidence US$273 mln in 2007 Ferroalloy exports of US$464 mln in 2006 and estimated US$635 mln in Incr
Slide 63: The Georgian Economy – Challenges
The Georgian Economy – Challenges Key challenges Expansion of the export base, especially in manufacturing and food processing CAGR 34% 3.5 35.0% 350 16% 3.0 33.9% 34.0% 300 14% US$ mln 3.1 2.5 32.8% 33.0% 250 12% 31.9% 10% 31.6% 2.2 200 US$ bn 2.0 32.0% 2.6 8% 1.5 1.6 31.0% 150 30.5% 6% 1.3 100 1.0
Slide 64: Equity Market Structures – GTI vs. MSCI Index Composition
Equity Market Structures – GTI vs. MSCI Index Composition Banking is Galt & Taggart Index – Sector Split MSCI Emerging Europe - Sector Split the only investable Other 12% sector in Materials 8% Georgia, with Banks, 82% Consumer Goods Banks 15% Energy 55% (including export- Energy , 6% driven) Teleco
Slide 65: Bank of Georgia 9 Months 2007 Financials
Bank of Georgia 9 Months 2007 Financials Page 65 January 2008 www.bog.ge/ir
Slide 66: Income Statement Data
Income Statement Data Period Ended 9 Months, 2007 9 Months, 2007 9 Months, 2006 Change3 Consolidated, IFRS Based US$ GEL US$1 GEL US$2 GEL Y-O-Y 000s, unless otherwise noted (Pro Forma Consolidated) (Unaudited) (Unaudited) Interest Income 119,549 198,213 99,637 165,198 36,766 63,807 158.90% Interest
Slide 67: Balance Sheet Data
Balance Sheet Data 30-Sep-07 30-Sep-07 Growth2 30-Sep-06 Consolidated, IFRS Based US$1 GEL US$1 GEL Y-O-Y US$3 GEL 000s, unless otherwise noted (Pro Forma Consolidated) (Unaudited) (Unaudited) Cash & Cash Equivalents 63,624 105,489 56,280 93,312 128.06% 23,576 40,916 Loans & Advances To Credit Insti
Slide 68: Key Ratios
Key Ratios September 2007, YTD 2006 September 2006, YTD Profitability Ratios ROAA, 1 Annualised .................................................................................................................................... 3.5% 3.4% 3.2% ROA, Annualised.........................................
Slide 69: Key Ratios cont’d
Key Ratios cont’d Liquidity Ratios September 2007, YTD 2006 September 2006, YTD Net Loans To Total Assets 20.......................................................................................................................... 53.1% 57.2% 66.2% Average Net Loans To Average Total Assets..........
Slide 70: Key Ratios cont’d
Key Ratios cont’d Per Share Values: September 2007, YTD 2006 September 2006, YTD Basic EPS (GEL) 36..................................................................................................................................... 1.95 1.62 1.10 Basic EPS (US$).....................................
Slide 71: Ratio Definitions
Ratio Definitions Page 71 January 2008 www.bog.ge/ir
Slide 72: Ratio Definitions
Ratio Definitions 1 Return On Average Total Assets (ROAA) equals Net Income of the period divided by quarterly Average Total Assets for the same period; 2 Return On Average Total Equity (ROAE) equals Net Income of the period divided by quarterly Average Total Equity for the same period; 3 Average In
Slide 73: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements This presentation contains statements that constitute “forward-looking statements”, including, but not limited to, statements relating to the implementation of strategic initiatives and other statements relating to our business development and financial p