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Georgian commercial banks up lending to economy

Business Materials 30 September 2011 17:23

Azerbaijan , Baku, Sept. 30 / Trend , G.Dadashova /

The volume of lending by the commercial banks (including loans to non-residents) in August, 2011increased by 142.1 million lari (2.0 percent) in August and exceeded 7.1 billion lari as of Sept.1, the National Bank of Georgia reported.

The volume of loans provided in the national currency increased by 128.8 million lari (6.5 percent), while the volume of loans in a foreign currency increased by 13.3 million lari (0.3 percent).

As of late august, the commercial banks issued to resident legal entities 739.2 million lari worth of national currency-denominated loans and 3.3 billion lari worth of loans in a foreign currency.

Out of the total volume of lending to legal entities, the biggest share falls on trade - 49.9 percent. Compared with the previous month,

In total volume of lending to legal entities, the biggest share falls on trade - 49.9 percent . The volume of loans provided for trade decreased by 0.9 percent or 18.5 million lari and constituted 2.0 billion lari in August.

Share of loans provided to the industrial sector constituted 19.6 percent of all loans to legal entities and amounted to 787.2 million lari as of Sept. Some 11.5 percent is accounted for construction. Roughly 81.0 percent of the total volume of lending to the legal entities falls only on three sectors - industry, construction and trade
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The volume of lending to resident individuals increased by 3.1 percent or 85.0 million lari in August 2011, and exceeded 2.8 billion lari as of Sept.1, 2011.

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