Loans by Georgia’s commercial banks up 0.9 per cent
Georgia, Tbilisi, November 30 / Trend, N. Kirtskhalia /
The value of loans assigned by Georgia's commercial banks, including those to non-residents in October 2011 increased by 0.9 per cent, or 68.0 million lari ($1=1.65 lari) against the previous month up to 7.5 billion lari, the National Bank of Georgia told Trend on Wednesday.
As previously reported, the value of credits issued in the national currency increased by 1.6 per cent, or 35.2 million lari whilst the value of credits in foreign currency increased by 0.6 per cent, or 32.8 million lari in the observed period.
Noteworthy is that 778.8 million lari (down 1.6 per cent, or 13.0 million lari from the previous month) were issued as loans in the national currency and 3.4 billion lari (up 1.4 per cent, or 48.6 million lari) were issued as loans in foreign currency to resident legal entities.
As for the crediting of legal entities, the bigger share, 49.3 per cent, covers trade. Compared to September, the crediting of trade in October increased by 1.4 per cent, or 27.9 million lari, up to 2.1 billion lari.
Loans to industries were 19.6 per cent of the total loans, or 823.3 million lari, down 0.6 per cent, or 4.6 million lari from the previous month. Of the total loans, 11.8 per cent were assigned to the construction sector: 498.4 million lari, up 4.0 per cent, or 19.0 million lari from the previous month. Taken together, the three branches - trade, industry and construction cover 80.7 per cent of the issued loans.
In the reported month, loans to residents increased by 2.1 per cent, or 61.3 million lari up to 3.0 billion lari on November 1.