Q1 2023 Bank of Georgia Group PLC Earnings Call Transcript
Hi, and welcome all to Bank of Georgia Group plc's First Quarter of 2023 Results Call. My name is Nini Arshakuni, I'm Head of Investor Relations at Bank of Georgia and I'll moderate today's call. (Operator Instructions) And now I'm joined by the Group CEO, Archil Gachechiladze, who will discuss the business performance as well as the macroeconomic developments. And Archil, you can go ahead now.
Thank you very much, Nini. I will jump into the presentation. Thank you very much for joining the call, and we'll go through the presentation very quickly so that we can add a bit more time for Q&A, which is usually the most interesting part of the call. So we had a very strong performance in the first quarter of this year, which continued a strong last year's performance. So the profit was EUR 300 million, up 25%. Return on equity of just shy of 28%, cost/income, 29.1%. So this is the first quarter after the 3 quarters where return on
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