GEL Deposits GEL Loans

Month BOG TBC Average Market Month BOG

3 6.00% 5.50% 5.75% 3 12.75%

6 8.00% 7.76% 7.88% 6 14.75%
9 8.50% 8.55% 8.53% 9 15.25%
12 9.00% 9.00% 9.00% 12 15.75%
15 9.00% 9.40% 9.20% 15 15.75%
18 9.10% 9.65% 9.38% 18 15.85%
21 9.20% 9.80% 9.50% 21 15.95%
24 9.25% 10.05% 9.65% 24 16.00%
36 9.50% 10.30% 9.90% 36 16.25%
48 9.75% 10.55% 10.15% 48 16.50%
60 10.00% 10.80% 10.40% 60 16.75%
12 11.25% 12.05% 11.65% 12 18.00%

USD Deposits USD Loans

Month BOG TBC Average Market Month BOG

3 0.00% 0.00% 0.00% 3 4.25%

6 1.00% 1.25% 1.13% 6 5.25%
9 2.00% 1.90% 1.95% 9 6.25%
12 2.50% 2.40% 2.45% 12 6.75%
15 2.50% 3.00% 2.75% 15 6.75%
18 2.60% 3.05% 2.83% 18 6.85%
21 2.70% 3.15% 2.93% 21 6.95%
24 2.75% 3.30% 3.03% 24 7.00%
36 3.00% 3.55% 3.28% 36 7.25%
48 3.25% 3.80% 3.53% 48 7.50%
60 3.50% 4.05% 3.78% 60 7.75%
12 4.75% 5.30% 5.03% 12 9.00%
 TBC Average Market GEL Transfer Price Curve

11.95% 12.35% 3 9.05%

14.21% 14.48% 6 11.18%
15.00% 15.13% 9 11.83%
15.45% 15.60% 12 12.30%
15.85% 15.80% 15 12.50%
16.10% 15.98% 18 12.68%
16.25% 16.10% 21 12.80%
16.50% 16.25% 24 12.95%
16.75% 16.50% 36 13.20%
17.00% 16.75% 48 13.45%
17.25% 17.00% 60 13.70%
18.50% 18.25% 12 14.95%

TBC Average Market USD Transfer Price Curve

4.70% 4.48% 3 2.24%

5.95% 5.60% 6 3.36%
6.60% 6.43% 9 4.19%
7.10% 6.93% 12 4.69%
7.70% 7.23% 15 4.99%
7.75% 7.30% 18 5.06%
7.85% 7.40% 21 5.16%
8.00% 7.50% 24 5.26%
8.25% 7.75% 36 5.51%
8.50% 8.00% 48 5.76%
8.75% 8.25% 60 6.01%
10.00% 9.50% 12 7.26%
Assets GEL FX

Cash 0% 0%
Securities:
Government 0%
Other 100%
Interbank Deposits:
OECD Countries 20%
Non OECD Countries 100%
Gross Loans:
Mortgage 35% 110%
Other Retail 75% 150%
Corporate 100% 175%

Fixed Assets 100% N/A

Other Assets 100% 100%
 Interest Rate 7.50%
FTP 6.01%

Net Margin 1.49%

Fee Income 4.00%

Revenue 5.49%

Opex ( x 25%) 1.37%

Cost of Risk 0.60%

Income Before Tax 3.52%

Tax Expense ( x 20%) 0.70%

Net Income 2.81%

Capital 14.0%

ROE 20%