Lion Finance Group PLC (BDGSF) Q3 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.149 -- 00:00:04.914 Hello, welcome everyone to Bank of Georgia Group PLC's 00:00:04.914 -- 00:00:09.880 results call. Today we're presenting the group's consolidated results for the third quarter 00:00:09.880 -- 00:00:15.186 of 2024. As always, I'm joined on this call by the group CEO, Archil 00:00:15.186 -- 00:00:19.891 Gaciciladze, and we'll start with our presentation, discuss the key developments as well 00:00:19.891 -- 00:00:24.616 as the highlights of the quarter, and then we'll open the floor for questions. 00:00:24.616 -- 00:00:30.761 Please be aware that this call is being recorded, and Archil, you can go ahead now. 00:00:31.435 -- 00:00:36.601 Hello, everyone. Thank you for joining this call. 00:00:36.601 -- 00:00:41.906 We had a record profit in the third quarter of this year, 509 million 00:00:41.906 -- 00:00:43.408 lari, 00:00:43.408 -- 00:00:49.294 which is up 42.5% versus last year, although this year obviously includes 00:00:49.294 -- 00:00:51.294 Ameriabank 00:00:51.336 -- 00:00:56.382 from Armenia, which is a leading bank in Armenia and is progressing 00:00:56.382 -- 00:01:00.158 very well. Return on equity 00:01:00.158 -- 00:01:01.939 was 32%, 00:01:01.939 -- 00:01:07.664 with a very low cost of risk of 0.2%, and cost income was just shy of 35%, 00:01:07.664 -- 00:01:11.146 which we feel comfortable with. 00:01:11.288 -- 00:01:17.654 With this, there's one other small good news that I wanted to share, which is that 00:01:17.654 -- 00:01:19.676 we have been named 00:01:19.676 -- 00:01:25.679 by Global Finance Magazine as the best digital bank in the world. 00:01:25.857 -- 00:01:30.305 Global Finance runs a lot of different 00:01:30.305 -- 00:01:34.553 prices, but Best Digital is their top price. 00:01:34.553 -- 00:01:37.979 And the r...