Lion Finance Group (LON: BGEO), the London-listed parent of Bank of Georgia and Armenia’s Ameriabank, reported earlier today that first-half profit rose 17.3% year-on-year to GEL 1,203.8m, with loan growth running well ahead of its own targets. Shares touched a fresh 52-week high in early trade.
BGEO shares were trading around 12,760p in London by mid-morning, up 2.08% from yesterday’s close of 12,500p, after an intraday high of 13,190p topped the previous 52-week high of 12,580p set on 7 August. The move extends a run that had already lifted the stock near record levels before today’s results.
The results, released before the London market opened this morning, showed second-quarter profit up 20.6% year-on-year to GEL 618.8m. The board declared a 1H26 dividend of GEL 5.90 per share, up 15.7% on the year, and approved a further GEL 59.0m share buyback and cancellation programme, to be executed by broker Cavendish Capital Markets and run until no later than the 2027 annual meeting.
Group loans grew 23.0% year-on-year in constant currency (stripping out currency swings) to GEL 44,429.0m, well above the group’s roughly 15% medium-term target. Georgia’s loan book, a mature but still-expanding franchise, grew 17.1%, while Armenia’s grew 36.8% as Ameriabank scales up. Return on average equity reached 27.2% for the half, with the non-performing loan ratio at 2.1%, versus 1.9% a year earlier, and cost of risk, loan losses set aside as a share of the loan book, at 0.5%, up from 0.4%.
“Our results for the first half reflect a business performing with a real momentum,” said Archil Gachechiladze, chief executive of Lion Finance Group. “In Armenia, we are growing well ahead of both the market and our own guidance, with the loan book up 36.8% year-on-year in constant currency, and Retail Digital MAU surging 47.0% year-on-year, as we scale the franchise and gain market share in one of the region’s most dynamic economies.”
Bank of Georgia’s retail digital daily active users passed 1 million for the first time, up 20.0% year-on-year, while Ameriabank’s monthly active users rose 47.0% to 392,100, underscoring the digital engagement behind the loan growth.