November 15, 2018 / 7:18 AM / a month ago

Georgia's TBC Bank posts 23.7 pct rise in quarterly earnings

Nov 15 (Reuters) - TBC Bank Group Plc, Georgia’s largest retail bank, reported a 23.7 percent jump in quarterly net earnings on Thursday, as it grew its loan book on the back of strong economic growth in the country.

TBC, which offers retail, corporate and small and medium-sized enterprise (SME) banking across the country, said net profit rose to 107.4 million laris ($40.5 million), in the three months ended Sept. 30, from 86.8 million laris a year earlier.

Net interest margin, a key indicator of a bank’s financial strength, rose to 6.9 percent during the quarter from 6.2 percent reported a last year.

$1 = 2.6550 laris Reporting by Muvija M and Noor Zainab Hussain in Bengaluru Editing by Saumyadeb Chakrabarty

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