Total assets of commercial banks of Georgia as of June 1 of 2008 made $5,7bln, having increased for 15,7%, as compared to the beginning of the year.

Mediamax reports referring News-Georgia that, from the beginning of the year, the number of Georgian banks with the participation of foreign investors in the authorized capital stock increased from 12 to 14, and the share of those banks in the total volume of assets in the banking system grew for 4,9 percentage points and made 69%.

The gains of commercial banks in January-May 2008 grew twice, as compared to the analogous period of 2007 and made 638,3mln lari. The net profit of the banking system of Georgia grew for 16,2% and made 51,6mln lari.

At present, 22 commercial banks function in Georgia, including 2 branches of foreign banks.