Georgian commercial banks begin giving less credit
Georgia, Tbilisi, Feb. 29 / Trend N. Kirtzkhalia /
The credit investment volume of Georgia's commercial banks decreased by 1.0 percent, i.e. 77.0 million lari, and hit 7.6 billion lari in January 2012, compared to the previous month, the Georgian National Bank told Trend on Wednesday.
The volume of loans in national currency decreased by 0.4 percent during this period, that is by 10.7 million lari and in foreign currency - by 1.2 percent or 66.2 million lari.
The banks provided resident legal entities with 787.2 million lari in national currency (by 4.5 percent, or 37 million lari less) by late January 2012, and in foreign currency - 3.4 million lari (2.7 percent or 94.3 million lari less). The largest share - 53.2 fall to the trade.
The volume of loans in this sector increased by 6.4 percent compared to December 2011, i.e. 134.6 million lari and exceeded 2.2 billion lari. The share of loans allocated for the industry hit 17.3 percent. This equals 721.7 million lari (19.4 percent, or 173.4 million lari less compared to December), about 9.3 percent falls to the sphere of construction. This equals to 390.1 million lari (11.7 percent or 51.7 million less).
Accordingly, 79.9 percent of total credit volume fall to these spheres. The credit volume of resident physical entities reduced by 0.4 percent in Jan., or 12.1 million lari. The figure hit 3.1 billion lari.