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Bank Constanta to Announce 1st Half, 2012 Results

Published: August 13, 2012 | 10:33 am
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The COMMERCIAL TIMES

Since the beginning of 2012 Bank Constanta has been the most rapid growth banking institution in Georgian banking sector. In the first half of the year the bank opened 13 new branches and service centers in the country.

The number of the bank’s clients has increased significantly along with the geographical expansion. According to the June data, the number of Bank Constanta’s borrowers reached 39 000.

The Bank’s successful activities is reflected in the financial results of the first half of 2012:

Since December, 2012 Bank Constanta’s credit portfolio has been increased by GEL 157. Million (33%).

The bank’s deposit portfolio also showed an important increase as it grew by GEL 25 million (220%) and reached GEL 36.4 million.

In total, in the first half of 2012 Bank Constanta’s profit made GEL 4.5 million, return on actives- 5.1%, return on capital- 35%.

The bank’s actives have exceeded GEL 200 million.

This period has proved to be a success in terms of product development as well:

INBOX-saving product tailored for Georgian market has been launched during the annual folklore Art Gene festival (sponsored by the bank) in the first half of 2012, in the beginning of July. An immediate success of the product has been reflected in the primary statistics.

According to the bank’s management, the tendency of active growth will be maintained in future as well. By the end of 2012 the bank will open around 10 new branches in the country.

 

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