Bank of Georgia Group PLC Bank of Georgia Group PLC hosts Investor Day 2020 (5500F)
17 Novembre 2020 - 01:00PM
UK Regulatory
TIDMBGEO
RNS Number : 5500F
Bank of Georgia Group PLC
17 November 2020
London, 17 November 2020
Bank of Georgia Group PLC hosts virtual Investor Day 2020
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group") announces that today it is hosting a virtual Investor Day
for analysts and investors. As part of the presentations, the
management will update investors on the Group's strategic goals and
priorities as summarised below.
Bank of Georgia Group is a Georgia focused Banking Group with
real strength in payment services and its digital platforms. Over
the last few years, and particularly through the recent period of
economic lockdown, the Group has significantly developed its
already market leading data analytics capabilities and digital
presence, to fully transform both the efficiency of its banking
operations and to provide solution-based banking to its strong
retail, MSME and corporate clients.
Bank of Georgia is the clear leader in the payments business in
Georgia, with a 45% market share in volume, and a 48% market share
in the number of transactions in POS terminals. Bank of Georgia
also has the strongest retail franchise in Georgia with a 41%
market share in the deposits of individuals.
Despite the ongoing challenges created by the global COVID-19
pandemic, over the medium-term, the Group's key priorities will
continue to be to:
-- sustain return on average equity in excess of 20% per
annum;
-- grow customer lending at c.15% per annum, with balanced
growth in the retail and corporate and investment banking
businesses;
-- aim to return to a dividend payout in the range of 25-40% of
earnings, as soon as practicably possible.
Having taken significant credit risk provisions in the first
quarter of 2020, to cover the COVID-19 related expected credit
losses for the full economic cycle, the Group has already returned
to delivering strong profitability, in excess of its medium-term
target, in the second and third quarters of 2020. To ensure we
maintain this strong profitability over time, the Group expects to
benefit from a broadly stable net interest margin, increasing
non-interest income, a clear focus on efficiency and stringent cost
control, and sound risk management.
-- The net interest margin, having increased by 60 basis points
in the third quarter of 2020, is expected to be broadly stable
going forward;
-- The Group expects operating expenses to be broadly flat
year-on-year in 2020, and to manage cost to income ratio at c.35%
in the medium-term;
-- The Group maintains sufficient reserves for its expected
credit losses through the full economic cycle, and expects its
normalised cost of credit risk ratio to be c.1.1% per annum going
forward.
The Group has a strong balance sheet with high levels of
liquidity, strong internal capital generation and a robust capital
management track record. Bank of Georgia's capital adequacy ratios
are currently comfortably above the minimum regulatory
requirements. Both from a CET1 and Tier 1 capital ratio
perspective, Bank of Georgia will aim to maintain a c.200 basis
points buffer over the minimum regulatory requirements as they
evolve over time.
A full set of the presentation slides can be viewed on the
Group's website at: www.bankofgeorgiagroup.com
Name of authorised official of issuer responsible for making
notification: Natia Kalandarishvili, Head of Investor Relations and
Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group" - LSE: BGEO LN) is a UK incorporated holding company, which
comprises: a) retail banking and payment services; and b) corporate
and investment banking and wealth management operations in Georgia;
and c) banking operations in Belarus ("BNB"). JSC Bank of Georgia
("Bank of Georgia", "BOG" or the "Bank"), the leading universal
bank in Georgia, is the core entity of the Group. In the medium
term, the Group targets to benefit from superior growth of the
Georgian economy through both its retail banking and corporate and
investment banking services and aims to deliver on its strategy,
which is based on at least 20% ROAE and c.15% growth of its loan
book .
JSC Bank of Georgia has, as of
the date hereof, the following
credit ratings:
Fitch Ratings 'BB-/B'
Moody's 'Ba3/NP' (FC)
& 'Ba2/NP' (LC)
For further information, please visit www.bankofgeorgiagroup.com
or contact:
Archil Gachechiladze Michael Oliver Sulkhan Gvalia Natia Kalandarishvili
CEO Adviser to the CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 144 +44 203 178 4034 +995 322 444 108 (9282)
agachechiladze@bog.ge moliver@bgeo.com sgvalia@bog.ge ir@bog.ge
This news report is presented for general informational purposes
only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCGPGQUGUPUUQM
(END) Dow Jones Newswires
November 17, 2020 07:00 ET (12:00 GMT)
Grafico Azioni Bank Of Georgia (LSE:BGEO)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Bank Of Georgia (LSE:BGEO)
Storico
Da Mar 2023 a Mar 2024