LONDON (ShareCast) - (Sharecast News) - Shares in Lion Finance Group surged on Tuesday after the Georgian bank lifted its dividend and extended its share buyback programme following strong results for 2024, in which profits surged.
The company this month changed it name from Bank of Georgia Group to better reflect its broader geographical presence following its acquisition of Armenia's largest bank, Ameriabank, in 2024.

Adjusted profits totalled GEL1.81bn (£0.5bn) in 2024, up 31.9% on the year before, with operating income jumping 40.8% to GEL3.56bn.

The loan book increased 65.9% year-on=year to GEL33.56bn, driven by strong growth in both Georgian and Armenian business, as well as the consolidation effect of Ameriabank.

The board declared a final dividend of GEL5.62 per share, bringing the total payout to GEL9.00, up 12.5% on 2023's payout.

In addition, the board approved a further GEL107.7m share buyback plan, bringing its overall payout ratio to 31% for 2024.

"Moving into 2025, we remain focused on driving strong customer franchise growth and high profitability across our main markets," said chief executive Archil Gachechiladze.

Shares were up 8.7% at 5,770p by 0840 GMT.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE