Nov 16 (Reuters) - TBC Bank Group Plc, Georgia’s largest retail bank, reported a 29 percent jump in third-quarter underlying net profit, buoyed by robust lending, and maintained its medium-term return-on-equity target.
TBC, which became Georgia’s largest bank by loans and deposits after buying JSC Bank Republic from SocGen and the European Bank for Reconstruction and Development (EBRD), said net interest margin stood at 6.2 percent compared with 8.3 percent a year earlier.
Net profit jumped to 88.0 million laris ($32.8 million) in the quarter ended Sept. 30.
($1 = 2.6850 laris)
Reporting by Noor Zainab Hussain and Saangameswaran S in Bengaluru; Editing by Mark Potter