Slight increase for Georgian banks’ credit investments
Georgia, Tbilisi, March 30 / Trend N.Kirtzkhalia /
Credit investments of Georgia's commercial banks, including those for non-residents increased by 0.4 per cent in Feb 2012, compared to the previous month, or by 27.2 million lari ($1=1.65 lari) reaching 7.7 billion lari as of March 1.
According to the National Bank of Georgia, loans granted during the same period in the national currency increased by 1.7 per cent, or 41.1 million lari and in foreign currency by 0.3 per cent or 13.9 million lari.
Legal entities-residents at the end of February received loans worth 830.8 million lari which is 5.5 per cent, or 43.6 million lari more compared to previous month and in foreign currency 3.4 million lari (0.8 per cent or 28.6 million lari less).
In lending to legal entities the largest share which is 46.4 per cent, accounts for trade. Compared to January, the following month saw the volume of loans granted to the trade area decline by 12.6 per cent, or by 280.3 million lari and reached 1.9 billion
The share of loans to industry was 21 per cent of the total loans granted to individuals. The industrial sector in February received 880.1 million lari, 21.9 per cent or 158.4 million lari more than in the previous month of which 10.1 per cent accounted for construction at 425.3 million lari, by nine per cent or 35.2 million more. This means that 77.5 per cent of all corporate lending accounts for three sectors - industry, construction and trade.
As of March 1, lending to resident individuals increased by 1.9 per cent or 60.2 million lari, to hit 3.2 billion lari.