Bank of Georgia H1 profits up 33.5%

(Sharecast News) - Bank of Georgia on Thursday reported a 33.5% jump in half year profits, driven by a sharp rise in net interest income. The bank posted a GEL 688.8m (£207m) profit, adjusted for one-off income compared with GEL 516m a year ago.

Net interest margin, a key measure of profitabilty and the difference between the rates on savings and loans, rose to 6.5% from 5.3%.

Reporting by Frank Prenesti for Sharecast.com