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Shares in Issue 45.59m
Market Cap. £2.30b
Market Size 750
PE Ratio 4.571157
Earnings 1,104.75321
Dividend 123.39306
Yield 2.443%
5000p now 34% better then the 3750p sell on 20th December 2023.
Georgia Capital also on all year high today .
Every little helps
Yep, looks like £50 should be a good base to consolidate, and push back on towards £55 in the coming weeks. GLA
The share buyback is working 🤞, back above £50.
Good luck all.
Sold out a chunk above £50, looking to get back in if/when it goes down a bit.
Wealthoracle.co.uk/detailed-result-full/BGEO/832
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
***************************detailed-result-full/bgeo/832
@Dramchart - exactly!
Happy with the results
Me too. Mr. Market, over-reacting to modest drop in profit mostly owing to costs associated with Ameriabank acquisition, seems to ignore the fact that you can't make omelettes without breaking eggs :)
This section from the y/e report summarises why!
Ameriabank is a leading franchise in the local market - #1 by loans and #2 by deposits - and is the "top-of-mind" banking brand in Armenia, with further upside to grow, especially in the retail and SME segments, leveraging the Group's experience and know-how in digitalisation, payments, and customer experience. I believe this acquisition, which was approved by the shareholders on March 14th, is a great opportunity for the Group to increase scale and unlock further growth. We are set to acquire Ameriabank with our surplus capital, with no dilution for shareholders, and it is expected to be immediately earnings enhancing with an ROE uplift. Importantly, our dividend and capital distribution policy and payout ratio of 30-50% will not change. Considering the Group's strong performance during 2023 and robust capital and liquidity positions, the Board intends to recommend, at the 2024 Annual General Meeting, a final dividend for 2023 of GEL 4.94 per share, making a total dividend for 2023 of GEL 8.00 per share. This is a 5% increase on the dividend for 2022 - a year boosted by significant one-offs and FX income which broadly normalised in 2023. In addition, the Board has also approved an extension of the buyback and cancellation programme by an additional GEL 100 million. This represents an overall dividend and share buyback pay-out ratio for the year ended 31 December 2023 of 37% (2022: 37%).
To be expected, but holding well - still at £50, which we'd have been delighted with reaching only a few weeks ago. Will be interesting to see if positive movement following the investors zoom call at 2pm, which I will try and join if I have time.
The summary all looks very positive to me - maintaining dividend growth, and more share buyback in 2024, all whilst funding Ameribank acquisition which will boost revenue and profits after an already stellar couple of years.
Thanks Rheinmetal (now there's a share I wish I'd jumped on a month ago....). It feels like I'm a bit late to the party with this one - I managed to get into Vistry a few weeks ago and they look like they have some really good potential (if you don't know too much about them watch this - https://www.youtube.com/watch?v=_W60Cmy3tbU&t=52s - It's an hour and a half long but gives a real in depth expose of what Vistry do). I may dip my toe in with BGEO - but am wary of catching this one a bit too late....
Revenue forecast is 659M apparently, so that's the ballpark to look at, albeit the Nov 23 results were very slightly below forecast and that certainly didn't hurt the continuing share price growth!
Nearly forgot UniCredit . Huge bank especially in eastern Europe
Hey Peaky,
If you like your European banks look at commerzbank and Deutsche Bank (both German obviously) . Deutsche results out tomorrow. Commerzbank had issues in the past (name me a bank that hasn't) but it's doing well now.
Deffo a stock to own rather than rent
Hi Norfolk,
I noticed the morning movements as well. I agree they always pay nice dividends. 7500p would be great. Deffo a stock to own rather rent. Looking forward to good results on Friday.
Good luck
I may well be wrong, but the share price movement has been quite interesting this week - moving a pound or so down or up from opening prices intra day, but usually returning to more or less the opening price at the end of each day. Strikes me as possibly MMs trying to stimulate some share sales ahead of results? I'm holding since 2700p and planning on holding for the next few years. My target is 7500p in 12 months time, with good dividends maintained in the meantime. GLA DYOR etc.
Hey Peak e
Well I am hoping for similar results to TCS bank posted recently. A nice divi would be great. They normally announce a share buyback but might happen this time because of the purchase of the other bank.
As an aside a week ago I purchased something shares in porch group Inc and Miniso adrs, I am not ramping but they both posted good earnings recently.
Anyway bgog results out on Friday 15 march. Good luck peaky 👍
What are your expectations?? Do results have to be bombastic to boost the SP?
14th march
When's the full year report and dividend declaration? I had it down as end of feb...