Banks increase lending to Georgian economy by 1.3%
Georgia, Tbilisi, Feb. 28 / Trend N.Kirtzkhalia /
The volume of lending by Georgian commercial banks increased by 81.6 million lari (1.3 percent) compared to the previous month and exceeded 6.3 billion lari by Feb.1, 2011, the National Bank of Georgia reported.
The volume of loans provided in the national currency decreased by 7.9 million lari (0.5 percent), while the volume of loans in a foreign currency increased by 89.5 million lari (1.9 percent).
By late January 2011, the commercial banks issued to resident legal entities 614.4 million lari worth of national currency-denominated loans (2.8 percent or 17.6 million lari less compared to previous month) and 3.0 billion lari worth of loans in a foreign currency (1.3 percent or 40.2 million lari more, respectively).
Out of the total volume of lending to legal entities, the biggest share falls on trade - 51.3 percent. Compared to the previous month, in January the volume of loans provided for trade decreased by 0.1 percent or 2.6 million lari and constituted 1.9 billion lari, the bank reported.
Share of loans provided to the industrial sector constituted 22.0 percent of all loans to legal entities and amounted to 801.0 million lari by February 1, 2011. 10.5 percent fall on construction, amounting to 382.5 million lari.
Therefore, 83.9 percent of the total volume of lending to the legal entities falls only on three sectors - industry, construction and trade.
The volume of lending to resident individuals increased by 1.5 percent or 35.9 million GEL, during the January, and reached 2.4 billion lari by Feb. 1, 2011.