Georgian bank's credit investments increase in 2011
Georgia, Tbilisi, June 30 / Trend N.Kirtzkhalia /
The volume of lending by Georgian commercial banks in May compared to the previous month, increased by 150 million lari (2.4 percent) ($1- 1.66 lari) and hit 6.5 billion lari by June 1, 2011, the National Bank of Georgia reported.
The volume of loans provided in the national currency increased by 55.9 million lari (3.2 percent), while the volume of loans in a foreign currency by 94.1 million lari (2 percent).
The commercial banks issued to resident legal entities 6.35.7 million lari worth of national currency-denominated loans (2.2 percent or 14.3 million lari less compared to previous month) and 3 billion lari worth of loans in a foreign currency (34.6 percent or 1.2 million lari more, respectively).
Out of the total volume of lending to legal entities, the biggest share falls to trade - 50.9 percent. Compared to April 2011, in May 2011 the volume of loans provided for trade increased by 0.4 percent or 7.1 million lari and hit 1.9 billion lari.
Share of loans provided to the industrial sector constituted 20.7 percent of all loans to legal entities and amounted to 7.59.2 million lari ( by 1.8 percent or 13.7 million lari less compared to the previous month). 10.7 percent fall to construction, amounting to 3.92.6 million lari (2.4 percent or 9.1 million lari more, respectively). Therefore, 82.4 percent of the total volume of lending to the legal entities falls only to three sectors - industry, construction and trade.
The volume of lending to resident physical entities increased by 5.2 percent or 125 million lari, during May 2011.