Bank Of Georgia Share Discussion Threads

[jm65] 03/5/2024 12:11

jqb1 that's a good read, difficult to know what's going on really.

I think the thing to watch is how the mass demonstration on May 11th is dealt with by the Government.

[jqb1] 03/5/2024 11:42

https://carnegieendowment.org/politika/89655

[jm65] 03/5/2024 11:20

Yes, always a risk but now there's pics in the news I think it's woken people up to the fact that the Dream Party really, really could be trying to align itself closer to Russia even if it costs Georgia EU Candidate status.But you're right...nothing has changed since a couple of weeks ago...apart from risk perception.But I still think this, TBC, and CGEO are great.

[jqb1] 03/5/2024 11:08

Not sure how the latest news effects the share price, this was already in the pipe line wasn't it?

[gobbie100] 03/5/2024 10:52

I sold all of these mid afternoon yesterday and close out Georgia capital this morning. Politics will overpower the fact this is a strong business for a little while. I plan to be back someday I hope.

[chriswatts] 03/5/2024 10:47

Me too. I've sold GCEO, my wife has sold her holding in BGEO. There's a real risk this could give up all gains on the current political uncertainty.

[jm65] 03/5/2024 10:10

Hi Ponyten,

Similar here...got totally out this morning and although it's a bit painful that I didn't sell last week I've still done rather well considering the time I was in.

Very keen on this, CGEO & TBC but, like you, just watching the news now to see how this pans out.

[ponyten] 03/5/2024 09:49

Unfortunately got stopped out this morning, but at least profits protected. Been a great run and still really like this share, but will wait and see what’s happening politically before jumping back in I think. GLA.

[jm65] 03/5/2024 09:43

Ongoing for a while...

[disc0dave46] 03/5/2024 09:12

Thanks, think that is more likely the reason.

[houseofpain1] 03/5/2024 08:59

Don't think so. My best guess it reflects anxieties around political developments/protests etc in Georgia over the last week.

[disc0dave46] 02/5/2024 20:03

Follow on reaction to CGEO results?

[flyfisher] 30/4/2024 11:25

hop1, In Q4 profits generated within bank georgia jsc accounted for about 97% of total group figures.

[disc0dave46] 24/4/2024 16:50

Spoke too soon!

[houseofpain1] 24/4/2024 14:52

The National Bank of Georgia released results for commercial banks in Georgia to 31 March earlier today. As I understand this data, it accounts for approximately 90% of BOG group profit. For Q1, net profit was GEL355.09m, implying that total group net profit for Q1 was around GEL395m. The annualised RoE for Q1 was 32.37%. This looks to be a long way ahead (perhaps 20%-25%) of analyst's expectations as far as I can see. And worth remembering that this is all before Ameriabank which completed around 1 April and so will only start to be seen in the numbers from Q2 onwards. So notwithstanding share price strength recently and over the last two years, the shares have not re-rated at all and are still on c4x 2024 EPS, yielding c6% and trading just above book. Still plenty of upside therefore...

[flyfisher] 24/4/2024 14:49

Consensus broker forecasts for 2024 have jumped by 70p to 1079p eps, which is likely to be due to a broker upgrading coverage to include the recent acquisition.

I guess that has caused the recent strength.

[kalai1] 15/3/2024 14:37

Bank of Georgia Group plc posted impressive FY23 prelims this morning continuing the bank’s trajectory of robust and very profitable growth. BGEO had 1.8 million monthly active retail clients as of 31 December 2023 up 10.8% y-o-y, operating income was GEL 657.2m in 4Q23 up 12.4% y-o-y, while in FY23 as a whole, operating income was up 26.4% yoy to GEL 2,530.4m. For FY23, profit was GEL 1,374.7m, up 21.4% y-o-y, while the Bank's Basel III CET1, Tier1, and Total capital ratios stood at 18.2%, 20.0%, and 22.1%, respectively, all comfortably above the minimum requirements of 14.5%, 16.7%, 19.6%, respectively. So more robust top and bottom line growth with a very solid balance sheet in tow. Valuation also remains reasonably attractive for the sector with forward PE ratio at 5.1x top quartile for the Banking Services sector. The share price also has strong positive momentum. BUY...

...from WealthOracle

[charlotte2020] 01/3/2024 12:44

Analyst presentation yesterday I think

[jm65] 01/3/2024 11:41

Any ideas on today's rise?

[flyfisher] 01/3/2024 09:08

This was my take from the recent broker note. I hadn't looked that far ahead.

''With European Banks forecast to show almost no revenue growth 2023-25E, in a falling rate environment, we believe the market will place a premium on scarce growth, with BOGG expected to deliver pro-forma EPS growth of 36% 2023-25E.''

[popit] 29/2/2024 03:40

Halyk Bank has not been bought

It was only a sale of their subsidiary in Kyrgyzstan

[flyfisher] 27/2/2024 18:14

That net income figure is high given that the tax rate was increasing on jan 1st.

[houseofpain1] 27/2/2024 14:39

Results to be published shortly after General Meeting of Shareholders to be held on 14 March.

In the meantime, worth noting that the National Bank of Georgia today published results for Georgian commercial banks for January. This statutory reporting accounts for c90% of BOG's profit and shows net income of GEL121.4m for Jan. This equates to an annualised ROE of 33%! Obviously one should be wary of reading too much into one month's data point but it does suggest that there is still a lot of momentum in the business. If Feb and March are similar, then most analysts estimates for Q1 are 20%-25% too low. And that's before upgrades that will need to be put through once Ameriabank completes.

So the thesis remains the same as it has done for the last two or three years: very cheap stock, high profitability, returning lots of capital to shareholders via divi and buyback and growing fast.

[flyfisher] 26/2/2024 17:11

Should have been last week, but i guess the acquisition has delayed the process slightly, so results imminent.
Q4 was already flagged a few weeks ago in an rns.