Lenders reported a rise in total net profit by 16.9 percent year-on-year to 173.9 million manats ($63.4 million) in the first quarter of this year.

Georgia’s commercial banking sector reported a rise in net profit in amount of 413,486 million lari ($137.4 million) in the first quarter of this year compared with 411,807 million lari in the same period of 2021.

The holding's total equity declined to 2.25 billion manats as of January 1, 2022 from 2.6 billion manats a year earlier. Revenue rose to 1.7 billion manats from 1.6 billion manats.