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BGEO Q2 profit nearly triples on growth at banking, healthcare businesses

Reuters - UK Focus

Aug 16 (Reuters) - BGEO Group Plc (Frankfurt: A1JRZ7 - news) , the holding company of JSC Bank of Georgia, on Wednesday reported a near-tripling in second-quarter pre-tax profit, helped by higher income in its banking and healthcare businesses.

The Tbilisi-based bank, formerly known as Bank of Georgia Holdings, said pre-tax profit rose to 128.1 million Georgian laris ($53.70 million) in the quarter ended June 30 from 46.5 million a year earlier.

Revenue rose 49.4 percent to 330.4 million laris, while net interest margin fell 20 basis points year-on-year to 7.3 percent. ($1 = 2.3855 laris) (Reporting by Justin George Varghese in Bengaluru; Editing by Adrian Croft)