Bank of Georgia Group Plc (GB:BGEO) has released an update.
Bank of Georgia Group PLC reports a robust second quarter in 2024, with a consolidated adjusted profit increase of 11% year-over-year to GEL 430 million and an impressive return on equity of 28%. Despite a one-time ECL charge related to the Ameriabank acquisition, the underlying profit growth would have been 23.7%. The Bank strengthens its shareholder value proposition through an interim dividend of GEL 3.38 per share and announces a GEL 73.4 million share buyback program.
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