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Georgian lender TBC Bank swung to a first-quarter loss owing to loan impairment charged taken as a result of the Covid-19 crisis.
Net losses for the three months three months through March amounted to GEL57m, compared to a profit of GEL133.3m on-year.
Excluding the Covid-19 charges and tax, profit would have risen 12% to GEL152m amid a 3.4% rise in net interest income.
The bank said its liquidity and capital positions remained strong, with its CET1, Tier 1 and Total CAR capital ratios standing at 9.1%, 12.0% and 16.7%, respectively, as of 31 March -- all above regulatory requirements.
At 10:07am: (LON:TBCG) Tbc Bank Group PLC share price was -30.5p at 728.5p