Georgian banks lead South Caucasus profits in first half of 2025

Georgian banks posted the highest profits among South Caucasus countries in the first half of 2025, official data showed .

Fifteen of the 19 banks operating in Georgia ended the half-year with profits, earning a combined $569.1 million, up 6% from the same period last year.

Armenia’s banks increased their profits by 16.6% year-on-year, with 12 of 17 lenders reporting positive results and a total profit of about $513 million.

In Azerbaijan, 21 of 22 banks were profitable, but their combined net profit fell 6% to $339.2 million compared with the first half of 2024.

For the full year 2024, banks in Azerbaijan earned $614 million, Georgia $1.1 billion, and Armenia $914 million.