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Bank of Georgia Group

LSE:BGEO
Snowflake Description

Undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BGEO
LSE
£792M
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Bank of Georgia Group PLC, through its subsidiaries, provides various banking products and services in Georgia. The last earnings update was 22 days ago. More info.


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BGEO Share Price and Events
7 Day Returns
-0.8%
LSE:BGEO
2.3%
GB Banks
1.9%
GB Market
1 Year Returns
-
LSE:BGEO
-7.8%
GB Banks
2.5%
GB Market
BGEO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bank of Georgia Group (BGEO) -0.8% 0.6% 7.5% - - -
GB Banks 2.3% 3.6% 4.4% -7.8% 16.1% -12.3%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • No trading data on BGEO.
  • No trading data on BGEO.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Bank of Georgia Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bank of Georgia Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bank of Georgia Group.

LSE:BGEO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= GEL52.73 * 22.3%
GEL11.74
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. GEL52.73
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:BGEO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 19%) (158.8%))
1.238
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.238 * 6.65%)
9.46%

Discounted Cash Flow Calculation for LSE:BGEO using Excess Returns Model Model

The calculations below outline how an intrinsic value for Bank of Georgia Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:BGEO Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (22.3% – 9.46%) * GEL52.73)
GEL6.75
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= GEL6.75 / (9.46% - 1.23%)
GEL81.97
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= GEL52.73 + GEL81.97
GEL134.7
LSE:BGEO Discount to Share Price
Calculation Result
Exchange Rate GEL/GBP
(Reporting currency to currency of LSE:BGEO)
0.286
Value per Share
(GBP)
= Value per Share in GEL x Exchange Rate (GEL/GBP)
= GEL134.7 x 0.286
£38.46
Value per share (GBP) From above. £38.46
Current discount Discount to share price of £16.66
= -1 x (£16.66 - £38.46) / £38.46
56.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bank of Georgia Group is available for.
Intrinsic value
>50%
Share price is £16.66 vs Future cash flow value of £38.46
Current Discount Checks
For Bank of Georgia Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bank of Georgia Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bank of Georgia Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bank of Georgia Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bank of Georgia Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:BGEO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GEL GEL8.30
LSE:BGEO Share Price ** LSE (2019-04-18) in GBP £16.66
LSE:BGEO Share Price converted to GEL reporting currency Exchange rate (GBP/ GEL) 3.502 GEL58.34
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bank of Georgia Group.

LSE:BGEO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:BGEO Share Price ÷ EPS (both in GEL)

= 58.34 ÷ 8.30

7.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bank of Georgia Group is good value based on earnings compared to the GB Banks industry average.
  • Bank of Georgia Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Bank of Georgia Group's expected growth come at a high price?
Raw Data
LSE:BGEO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
14%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:BGEO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.03x ÷ 14%

0.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bank of Georgia Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Bank of Georgia Group's assets?
Raw Data
LSE:BGEO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GEL GEL37.59
LSE:BGEO Share Price * LSE (2019-04-18) in GBP £16.66
LSE:BGEO Share Price converted to GEL reporting currency Exchange rate (GBP/ GEL) 3.502 GEL58.34
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
LSE:BGEO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:BGEO Share Price ÷ Book Value per Share (both in GEL)

= 58.34 ÷ 37.59

1.55x

* Primary Listing of Bank of Georgia Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bank of Georgia Group is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess Bank of Georgia Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Bank of Georgia Group has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Bank of Georgia Group expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bank of Georgia Group expected to grow at an attractive rate?
  • Bank of Georgia Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Bank of Georgia Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Bank of Georgia Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:BGEO Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:BGEO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 14%
LSE:BGEO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 12.4%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:BGEO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in GEL Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:BGEO Future Estimates Data
Date (Data in GEL Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,542 642 1
2021-12-31 1,280 576 2
2020-12-31 1,236 503 6
2019-12-31 1,102 445 6
LSE:BGEO Past Financials Data
Date (Data in GEL Millions) Revenue Cash Flow Net Income *
2018-12-31 894 -286 361
2018-09-30 1,029 378
2018-06-30 1,001 -157 361
2018-03-31 955 397
2017-12-31 745 -656 339
2017-09-30 621 264
2017-06-30 668 649 312
2017-03-31 689 327
2016-12-31 611 921 266
2016-09-30 822 404
2016-06-30 767 142 346
2016-03-31 739 322

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bank of Georgia Group's earnings are expected to grow by 14% yearly, however this is not considered high growth (20% yearly).
  • Bank of Georgia Group's revenue is expected to grow by 12.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:BGEO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Bank of Georgia Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BGEO Future Estimates Data
Date (Data in GEL Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 11.62 11.62 11.62 1.00
2020-12-31 10.46 10.57 10.35 2.00
2019-12-31 8.96 8.96 8.96 1.00
LSE:BGEO Past Financials Data
Date (Data in GEL Millions) EPS *
2018-12-31 8.30
2018-09-30 9.04
2018-06-30 9.20
2018-03-31 10.55
2017-12-31 8.99
2017-09-30 6.97
2017-06-30 8.22
2017-03-31 8.58
2016-12-31 6.96
2016-09-30 10.54
2016-06-30 9.03
2016-03-31 8.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Bank of Georgia Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Bank of Georgia Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bank of Georgia Group has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Bank of Georgia Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bank of Georgia Group's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bank of Georgia Group's year on year earnings growth rate has been positive over the past 5 years.
  • Bank of Georgia Group's 1-year earnings growth is less than its 5-year average (6.6% vs 11.6%)
  • Bank of Georgia Group's earnings growth has not exceeded the GB Banks industry average in the past year (6.6% vs 42.2%).
Earnings and Revenue History
Bank of Georgia Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bank of Georgia Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BGEO Past Revenue, Cash Flow and Net Income Data
Date (Data in GEL Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 893.93 361.10 351.08
2018-09-30 1,029.41 377.78 443.47
2018-06-30 1,000.56 361.12 430.96
2018-03-31 955.06 396.71 418.38
2017-12-31 744.63 338.83 315.05
2017-09-30 620.50 263.97 257.16
2017-06-30 667.55 312.46 282.34
2017-03-31 689.35 327.39 296.16
2016-12-31 611.08 266.26 266.98
2016-09-30 821.73 403.69 359.10
2016-06-30 767.40 345.93 331.56
2016-03-31 739.39 321.89 316.77
2015-12-31 612.09 276.92 260.77
2015-09-30 664.22 275.63 293.43
2015-06-30 625.70 257.40 279.30
2015-03-31 600.94 243.22 266.56
2014-12-31 575.68 232.51 248.31
2014-09-30 564.83 221.93 239.37
2014-06-30 541.31 218.10 226.70
2014-03-31 502.73 212.82 216.41
2013-12-31 512.95 201.49 215.10
2013-09-30 449.97 193.07 201.53
2013-06-30 445.73 181.96 204.89
2013-03-31 466.47 175.95 207.01
2012-12-31 457.85 174.44 202.22
2012-09-30 448.45 164.15 204.71
2012-06-30 432.07 156.07 198.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Bank of Georgia Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Bank of Georgia Group used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Bank of Georgia Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Bank of Georgia Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bank of Georgia Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Bank of Georgia Group's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Bank of Georgia Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bank of Georgia Group Company Filings, last reported 3 months ago.

LSE:BGEO Past Debt and Equity Data
Date (Data in GEL Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,798.27 4,403.69 1,370.65
2018-09-30 1,633.35 4,585.27 1,237.87
2018-06-30 1,637.59 3,478.08 1,699.82
2018-03-31 2,740.57 4,045.89 1,754.92
2017-12-31 2,732.37 4,433.61 1,890.26
2017-09-30 2,663.89 4,465.79 1,721.81
2017-06-30 2,543.40 4,154.16 1,741.06
2017-03-31 2,452.75 4,290.50 1,285.48
2016-12-31 2,388.21 4,082.26 1,704.12
2016-09-30 2,388.75 3,777.01 1,197.69
2016-06-30 2,209.38 2,603.32 1,076.87
2016-03-31 2,150.85 2,753.68 1,359.22
2015-12-31 2,042.09 2,386.72 1,563.68
2015-09-30 1,757.96 3,192.00 1,320.32
2015-06-30 1,655.94 2,774.51 1,405.37
2015-03-31 1,700.15 2,807.33 1,000.71
2014-12-31 1,634.09 2,004.27 883.29
2014-09-30 1,328.23 2,086.72 759.64
2014-06-30 1,256.88 1,748.56 969.97
2014-03-31 1,287.03 1,970.01 979.50
2013-12-31 1,241.05 1,663.94 1,132.81
2013-09-30 1,170.94 1,648.78 687.40
2013-06-30 1,102.91 1,280.15 1,020.62
2013-03-31 1,109.82 1,365.64 696.59
2012-12-31 1,059.51 1,610.95 911.67
2012-09-30 1,007.95 1,561.30 666.90
2012-06-30 957.39 779.61 637.61
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Bank of Georgia Group has an acceptable proportion of non-loan assets held.
  • Bank of Georgia Group's liabilities are made up of primarily low risk sources of funding.
  • Loans at Bank of Georgia Group are broadly funded by customer deposits.
  • Bank of Georgia Group's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Bank of Georgia Group has a low allowance for bad loans.
  • Bank of Georgia Group has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Bank of Georgia Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bank of Georgia Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Bank of Georgia Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.37%
Current annual income from Bank of Georgia Group dividends. Estimated to be 6.08% next year.
If you bought £2,000 of Bank of Georgia Group shares you are expected to receive £87 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Bank of Georgia Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Bank of Georgia Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment

Purchase Bank of Georgia Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:BGEO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:BGEO Future Dividends Estimate Data
Date (Data in GEL) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 5.39 1.00
2021-12-31 3.93 6.00
2020-12-31 3.56 9.00
2019-12-31 3.02 8.00
LSE:BGEO Past Annualized Dividends Data
Date (Data in GEL) Dividend per share (annual) Avg. Yield (%)
2019-04-05 2.550 4.264
2018-08-16 2.440 4.456
2018-05-21 2.600 4.174

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Bank of Georgia Group has stable dividend payments.
  • Bank of Georgia Group only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Bank of Georgia Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Bank of Georgia Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bank of Georgia Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bank of Georgia Group has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Bank of Georgia Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Archil Gachechiladze
COMPENSATION GEL1,628,094
AGE 38
TENURE AS CEO 0.3 years
CEO Bio

Mr. Archil Gachechiladze, CFA, has been Chief Executive Officer and Member of Management Board of JSC Bank of Georgia since Janauary 28, 2019. Mr. Gachechiladze has been Chief Executive Officer and Director of Bank of Georgia Group PLC since Janauary 28, 2019. He served as the Chief Executive Officer of Georgia Global Utilities at BGEO Group plc since January 2017. While at the firm, Mr. Gachechiladze also served as the Chief Executive Officer of Georgia Global Utilities and Member of Management Board of JSC Bank of Georgia until February 22, 2017 and served as its Deputy Chief Executive Officer of Corporate Investment Banking since February 2016. He also served as the Group Chief Financial Officer at BGEO Group plc from August 2015 to February 2016. Mr. Gachechiladze served as the Deputy Chief Executive Officer of Investment Management at JSC Bank of Georgia until February 2016. He served as the Deputy Chief Executive Officer of Investment Management at Bank of Georgia Holdings plc from May 2013 to August 2015. Mr. Gachechiladze served as the Deputy Chief Executive Officer of Asset and Wealth Management at Bank of Georgia Holdings plc since May 2013. He joined the firm in 2009. He served as a Deputy Director in charge of Corporate Recovery at TBC Bank since August 2008. Mr. Gachechiladze also worked as an Associate at Lehmann Brothers Private Equity. From 1998 to 2004, he served as Senior Associate at Salford Equity Partners, Senior Analyst at the EBRD, Senior Financial Analyst at KPMG Barents and Team Leader for the World Bank's CERMA Project. Mr. Gachechiladze serves as the Chairman of JSC Galt & Taggart. He has 9 years of experience in the financial services sector. Mr. Gachechiladze is a C.F.A. Charterholder. He holds an M.B.A. with distinctions from Cornell University and a Bachelor's Degree in Economics and Law from the Tbilisi State University.

CEO Compensation
  • Archil's compensation has increased by more than 20% in the past year.
  • Insufficient data for Archil to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Bank of Georgia Group management team in years:

1.6
Average Tenure
44
Average Age
  • The average tenure for the Bank of Georgia Group management team is less than 2 years, this suggests a new team.
Management Team

Kaha Kiknavelidze

TITLE
Senior Advisor
COMPENSATION
GEL3M
AGE
45
TENURE
0.3 yrs

Archil Gachechiladze

TITLE
CEO & Director
COMPENSATION
GEL2M
AGE
38
TENURE
0.3 yrs

David Tsiklauri

TITLE
Deputy CEO & CFO

Levan Kulijanishvili

TITLE
Deputy CEO of Operations
COMPENSATION
GEL967K
TENURE
1.6 yrs

Ekaterina Shavgulidze

TITLE
Group Head of Investment & Business Development
TENURE
2 yrs

Vakhtang Bobokhidze

TITLE
Deputy CEO & Chief Information Officer
TENURE
1.1 yrs

Natia Kalandarishvili

TITLE
Head of Investor Relations and Funding

Avto Namicheishvili

TITLE
Group General Counsel
COMPENSATION
GEL2M
AGE
44
TENURE
3.6 yrs

George Chiladze

TITLE
Deputy CEO & Chief Risk Officer
AGE
47
TENURE
5.6 yrs

Mikheil Gomarteli

TITLE
Deputy CEO of Retail Banking (Emerging and Mass Retail and Micro Business Banking)
COMPENSATION
GEL1M
AGE
42
Board of Directors Tenure

Average tenure and age of the Bank of Georgia Group board of directors in years:

1.2
Average Tenure
49
Average Age
  • The average tenure for the Bank of Georgia Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Neil Janin

TITLE
Non-Executive Chairman of the Board
COMPENSATION
GEL314K
AGE
63
TENURE
7.5 yrs

Archil Gachechiladze

TITLE
CEO & Director
COMPENSATION
GEL2M
AGE
38
TENURE
0.3 yrs

Tamaz Georgadze

TITLE
Independent Non-Executive Director
COMPENSATION
GEL167K
TENURE
6.3 yrs

Jonathan Muir

TITLE
Independent Non-Executive Director
COMPENSATION
GEL156K
TENURE
1.8 yrs

Hanna-Leena Loikkanen

TITLE
Senior Independent Non-Executive Director
COMPENSATION
GEL170K
AGE
49
TENURE
1.2 yrs

Cecil Quillen

TITLE
Independent Non-Executive Director
COMPENSATION
GEL114K
TENURE
1.2 yrs

Véronique Mccarroll

TITLE
Independent Non-Executive Director
COMPENSATION
GEL13K
TENURE
0.5 yrs

Andreas Wolf

TITLE
Independent Non-Executive Director
COMPENSATION
GEL21K
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • Bank of Georgia Group insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
15. Apr 19 Buy Bank of Georgia Group PLC, ESOP Company 12. Apr 19 12. Apr 19 40,000 £17.08 £683,200
08. Apr 19 Buy Bank of Georgia Group PLC, ESOP Company 05. Apr 19 05. Apr 19 10,000 £16.81 £168,100
01. Apr 19 Buy Bank of Georgia Group PLC, ESOP Company 29. Mar 19 29. Mar 19 10,000 £16.56 £165,600
20. Mar 19 Sell David Tsiklauri Individual 14. Mar 19 15. Mar 19 -30,000 £17.02 £-510,346
18. Mar 19 Buy Bank of Georgia Group PLC, ESOP Company 15. Mar 19 15. Mar 19 25,000 £16.47 £411,750
07. Dec 18 Buy Kakhaber Kiknavelidze Individual 05. Dec 18 05. Dec 18 15,000 £13.60 £203,951
11. Jun 18 Buy Rubicon Executive Equity Compensation Trust Company 08. Jun 18 08. Jun 18 40,000 £20.52 £820,800
07. Jun 18 Buy Neil Janin Individual 01. Jun 18 01. Jun 18 651 £19.59 £12,750
27. Feb 19 Sell David Tsiklauri Individual 22. Feb 19 26. Feb 19 -11,000 £16.84 £-185,057
07. Dec 18 Buy David Tsiklauri Individual 06. Dec 18 06. Dec 18 6,000 £13.15 £78,718
05. Dec 18 Buy David Tsiklauri Individual 04. Dec 18 05. Dec 18 4,000 £13.59 £54,107
03. Dec 18 Buy Rubicon Executive Equity Compensation Trust Company 30. Nov 18 30. Nov 18 34,942 £14.40 £503,165
02. Jul 18 Buy Rubicon Executive Equity Compensation Trust Company 29. Jun 18 29. Jun 18 61,000 £19.15 £1,168,150
25. Jun 18 Buy Rubicon Executive Equity Compensation Trust Company 22. Jun 18 22. Jun 18 74,000 £19.22 £1,422,280
18. Jun 18 Buy Rubicon Executive Equity Compensation Trust Company 15. Jun 18 15. Jun 18 80,000 £19.46 £1,556,800
X
Management checks
We assess Bank of Georgia Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bank of Georgia Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Do Analysts Think About Bank of Georgia Group PLC's (LON:BGEO) Future?

Based on Bank of Georgia Group PLC's (LON:BGEO) earnings update in June 2018,. … with earnings expected to grow by 8.1% in the upcoming year … Presently, with latest-twelve-month earnings at GEL361.1m, we should see this growing to GEL390.5m by 2019.

Simply Wall St -

Should You Be Concerned About Bank of Georgia Group PLC’s (LON:BGEO) Risks?

As a small cap company operating in a heavily regulated financial services sector, an investment in Bank of Georgia Group PLC (LON:BGEO) has many factors to consider. … Since bad debt is written off as an expense, it impacts Bank of Georgia Group’s bottom line and shareholders’ value. … Today we will analyse Bank of Georgia Group’s level of bad debt and liabilities in order to understand the risk involved with investing in Bank of Georgia Group

Simply Wall St -

Is Bank of Georgia Group PLC's (LON:BGEO) 14.77% ROE Strong Compared To Its Industry?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … If BGEO borrows debt to invest in its business, its profits will be higher.

Simply Wall St -

Does Bank of Georgia Group PLC's (LON:BGEO) PE Ratio Warrant A Buy?

and want to learn about the link between company’s fundamentals and stock market performance. … Bank of Georgia Group PLC (LON:BGEO) is currently trading at a trailing P/E of 5.6x, which is lower than the industry average of 12.1x. … See our latest analysis for Bank of Georgia Group

Simply Wall St -

Should You Be Tempted To Buy Bank of Georgia Group PLC (LON:BGEO) At Its Current PE Ratio?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Bank of Georgia Group PLC (LON:BGEO) trades with a trailing P/E of 10.8x, which is lower than the industry average of 11.8x.

Simply Wall St -

What Do Bank of Georgia Group PLC (LON:BGEO) Insiders Know That You Don't?

Bank of Georgia Group PLC provides various banking products and services in Georgia. … some insider buying over the past three months, with insiders investing in. … Generally, insiders buying more shares in their own firm sends a bullish signal

Simply Wall St -

How BGEO Group Ltd (LON:BGEO) Can Add Value To Your Portfolio

Attractive stocks have exceptional fundamentals. … In the case of BGEO Group Ltd (LON:BGEO), there's. … report on BGEO Group here

Simply Wall St -

Reasons Why I Like BGEO Group Ltd (LON:BGEO)

Attractive stocks have exceptional fundamentals. … In the case of BGEO Group Ltd (LON:BGEO), there's. … report on BGEO Group here

Simply Wall St -

Is It Too Late To Buy BGEO Group plc (LON:BGEO)?

Let’s take a look at BGEO Group’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Great news for investors – BGEO Group is still trading at a fairly cheap price. … BGEO Group’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta.

Simply Wall St -

Top Cheap Stocks To Buy Today

BGEO's stock is currently hovering at around -54% under its actual value of GEL72.83, at a price of UK£33.16, based on my discounted cash flow model. … RM.'s shares are currently floating at around -24% lower than its true level of £2.77, at a price tag of UK£2.12, according to my discounted cash flow model. … In addition to this, RM.’s PE ratio is trading at around 13.44x relative to its Internet peer level of, 33.82x suggesting that relative to its peers, we can buy RM.’s stock at a cheaper price today.

Simply Wall St -

Company Info

Description

Bank of Georgia Group PLC, through its subsidiaries, provides various banking products and services in Georgia. It operates through Retail Banking, Corporate Investment Banking, BNB, and Other Banking Business segments. The Retail Banking segment offers consumer loans, mortgage loans, overdrafts, credit cards, and other credit facilities; funds transfer and settlement services; and customers’ deposits for individuals and legal entities under the Express, Bank of Georgia, and SOLO brands. It primarily serves retail, mass retail, and mass affluent segments, as well as small and medium enterprises, and micro businesses. The Corporate Investment Banking segment offers loans and other credit facilities, funds transfers and settlement services, trade finance services, and documentary operations support services; and handles saving and term deposits for corporate and institutional customers, as well as provides private banking services to high net worth clients. The BNB segment offers retail and corporate banking services to clients in Belarus. The Other Banking Business segments provides compliance and governance services for various small corporate and social responsibility companies. As of December 31, 2018, the company operated 271 branches, 876 automated teller machines, and 3,115 Express Pay terminals. Bank of Georgia Group PLC was incorporated in 2017 and is headquartered in London, the United Kingdom.

Details
Name: Bank of Georgia Group PLC
BGEO
Exchange: LSE
Founded: 2017
£791,854,464
47,530,280
Website: http://bankofgeorgiagroup.com
Address: Bank of Georgia Group PLC
84 Brook Street,
London,
Greater London, W1K 5EH,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE BGEO New Common Shares London Stock Exchange GB GBP 21. May 2018
OTCPK BDGS.F New Common Shares Pink Sheets LLC US USD 21. May 2018
BATS-CHIXE BGEOL New Common Shares BATS 'Chi-X Europe' GB GBP 21. May 2018
Number of employees
Current staff
Staff numbers
7,416
Bank of Georgia Group employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 22:23
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.