The Georgian banking industry has long been an outperformer, thanks to its highly concentrated and modern banking sector. Excluding Ukraine, the top Georgian banks – Bank of Georgia and TBC Bank – account for two of the top three lenders in The Banker's latest Black Sea banks ranking.
The country’s aggregate return on capital in 2012 was 19.2%, the strongest in the region, and Georgian banks punched well above their weight in terms of profitability, generating 24% of profits among the five countries from just 6% of total assets.
For the full story, read The Banker's Black Sea ranking.
