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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Shares in Bank of Georgia (BGEO) are 171% higher than they were three years ago and up more than 20% in just the last six months to all-time highs of nearly £36.More good news if you are a shareholder is that the European lender has raised its interim dividend by 65% to 3.06 lari (0.92 pence) per share, while the board has approved a further 62 million (£18.6 million) of share buybacks.
Improvements to its balance sheet, a growing Georgian economy – with GDP up 7.6% year-on-year – have both played a role in making this stock one of the best performers since the pandemic, considerably outshining its UK banking peers.
The Tbilisi-based bank reported an impressive 39% surge in net interest income for the six months to 30 June to 768 million lari (£230 million) and a 44% increase in net fee income to 201 million lari (£60 million).
Broker Peel Hunt said the profit was ahead of consensus and ‘should provide the basis for estimate upgrades’.
The broker said the results appear ‘strong and clean’, continuing the company’s positive momentum, whilst the valuation multiples, ‘allow for potential upside’.
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Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
The value of your investments can go down as well as up and you may get back less than you originally invested. We don't offer advice, so it's important you understand the risks, if you're unsure please consult a suitably qualified financial adviser. Tax treatment depends on your individual circumstances and rules may change. Past performance is not a guide to future performance and some investments need to be held for the long term.