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Investing.com -- Shares of Lion Finance Group PLC (LON:BGEO) climbed more than 4% on Tuesday following the its results for the fourth quarter and full year 2024.
The company reported an adjusted profit of GEL 504.7 million for Q4 and GEL 1.81 billion for the full year, with an adjusted return on average equity (ROAE) of 30.0%.
Operating income for the quarter rose 57% year-over-year to GEL 1.03 billion, supported by a 55.2% increase in net interest income (GEL 663.7 million) and a 48.2% rise in net fee and commission income (GEL 169.1 million). Foreign currency gains also surged 81.3% to GEL 176.4 million.
The group’s loan book expanded by 65.9% year-over-year, reflecting strong demand in its Georgian and Armenian markets, along with the integration of Ameriabank, acquired in early 2024.
The company also maintained solid asset quality, with a cost of credit risk ratio of 0.5% and a non-performing loan (NPL) ratio of 2.0%, down from 2.3% a year earlier.
Lion Finance Group announced plans to recommend a final dividend of GEL 5.62 per share, bringing the total for the year to GEL 9 per share, a 12.5% increase from 2023. Additionally, the company approved a GEL 107.7 million share buyback program.
Digital engagement remained strong, with Bank of Georgia’s retail digital monthly active users (MAU) up 17.5% year-over-year and Ameriabank’s MAU jumping 54.4%.
CEO Archil Gachechiladze attributed the results to the company’s strong operational performance, regional expansion, and strategic investments in digital banking.