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Georgian banks lend 5.6 billion lari to economy

Business Materials 1 July 2010 15:43 (UTC +04:00)

Georgia, Tbilisi, July 1 / Trend N.Kirtzkhalia /

Loans made by commercial banks increased by 1.7 percent to 5.6 billion lari by June 1 compared to the previous month, the Georgian National Bank reported.

Loans provided in the national currency increased by 68.3 million lari (5.0 percent), while loans in foreign currency increased by 23.0 million lari (0.6 percent).

Commercial banks issued resident legal entities 662.5 million lari worth of national currency in denominated loans (4.1 percent or 25.9 million lari more compared to the previous month) and 2.6 billion lari worth of loans in foreign currency (1.0 percent or 24.5 million more lari).

By late May, commercial banks issued resident legal entities 662.5 million lari worth of national currency in denominated loans (4.1 percent or 25.9 million lari more than the previous month) and 2.6 billion lari worth of loans in foreign currency (1.0 percent or 24.5 million lari more).

The share of loans provided to the industrial sector constituted 23.7 percent of all loans to legal entities and amounted to 765.5 million lari by June 1 (2.3 percent or 16.9 million lari more than the previous month). Eleven percent falls to construction, amounting to 356.7 million lari (3.6 percent or 12.6 million lari more).

The volume of loans to resident individuals increased by 1.9 percent or 38.2 million lari in May and reached 2.1 billion lari by June 1.

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