Tbilisi (GBC) - Banks received GEL 23.6 million in revenue from currency exchange in January. Unlike January of last year (2021), when they lost 13.5 million GEL. However, if we take into account the 34 million GEL received from the revaluation of foreign exchange loans, the sector did not have a lose last year either (34.5-13.5 = GEL 24 million).

Banks By Profit From Currency Exchange

Source: NBG and commercial banks (rating by assets)

** Net profit / loss is calculated from the revaluation of foreign currency assets due to changes in the GEL exchange rate in the current month, excluding the revaluation of foreign currency liabilities