Georgian banks actively lend to business

Photo: Georgian banks actively lend to business / Georgia

Tbilisi, Georgia, April 26
By Nana Kirtzkhalia - Trend:

The volume of credit investments of commercial banks in the Georgian economy increased by two percent or 204.9 million GEL in March 2014, compared to February, exceeding 10.6 billion GEL.

During the reported period the volume of loans issued in the national currency increased by 131.2 million GEL, or 3.2 percent and in foreign currency - by 73.6 million GEL (1.2 percent growth) compared to February 2014, the National Bank of Georgia told Trend.

Some 1.2 billion GEL (growth of 7.3 percent, or 81.3 million GEL compared to February), and in foreign currency some 4.2 billion GEL (growth of 0.4 percent, or 15.9 million GEL) have been allocated to the resident legal entities by the Georgian commercial banks in March 2014.

Some 44.8 percent out of the total amount of the allocated loans to the legal entities accounted for trade in Georgia in March. The specified indicator increased by 0.1 percent, or 1.8 million lari, amounting to 2.4 billion GEL, compared to February, 2014.

The official exchange rate of the National Bank of Georgia on April 26 is 1,75 GEL / USD.

Translated by S.I.

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