TBC Bank recommends dividend after year of growth

16th Feb 2024 07:21

(Sharecast News) - TBC Bank Group reported significant increases in net interest income, of 26.8%, and net fee and commission income, of 27.8%, in its full-year results on Friday, leading to total operating income of GEL 2.37bn (£0.71bn), up 14.6%.

Despite a 36% increase in its total credit loss allowance and a 24.2% rise in operating expenses, the bank still achieved a profit before tax of GEL 1.33bn, up 7%.

After a 20.3% fall in income tax expenses, the bank reported a profit for the period of GEL 1.14bn, up 13.6% year-on-year.

The board recommended a final dividend for 2023 of GEL 4.67 per share.

Reporting by Josh White for Sharecast.com.