Fitch: Georgian banks demonstrate growth in more competitive sphere
Georgia, Tbilisi, July 27 / Trend N. Kirtskhalia /
The international rating agency Fitch Ratings has published a new report. It stressed that the restoration of Georgia's economy maintained stable indices of Georgian banks in the first half of 2011. This trend is expected to continue in the second half of 2011 and 2012.
The report "Georgian Banks: Growth in a More Competitive Environment", published in the form of a presentation is given on the site www.fitchratings.com.
The Georgian economy increased by 6.4 percent in 2010. Fitch expects growth by 5 percent in 2011 and 6 percent in 2012. Such a rise supported the growth of credit, amounting to 9 percent for five months in 2011. At the same time, competition for positions in the lending market is demonstrated at lower rates.