Bank of Georgia half-year profit boosted by retail lending

Credit: REUTERS/DAVID MDZINARISHVILI

London-listed Bank of Georgia reported a 36.9% rise in first-half profit on the back of strong lending at its retail banking business, while its overall margins were hurt by pricing pressure in the unsecured consumer lending market.

Aug 14 (Reuters) - London-listed Bank of Georgia BGEO.L reported a 36.9% rise in first-half profit on the back of strong lending at its retail banking business, while its overall margins were hurt by pricing pressure in the unsecured consumer lending market.

The Georgian lender, among the biggest in the country, said profit jumped to 209.1 million laris ($72.35 million) for the six months ended June 30, from 152.7 million laris a year earlier.

($1 = 2.8900 laris)

(Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)

((Muvija.M@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3638; Reuters Messaging: muvija.m.thomsonreuters.com@reuters.net))

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