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Georgian commercial banks increase volume of credit investments in economy in March

Business Materials 30 April 2012 20:21 (UTC +04:00)

Georgia, Tbilisi, April 30 /Trend N.Kirtzkhalia/

The volume of credit investments of Georgian commercial banks increased by 1.9 percent or by 145.8 million lari ($ 1 = 1.63 lari) in March 2012 compared to the previous month, and exceeded 7.8 billion lari. In the same period the volume of loans in national currency increased by 2.2 per cent, or 53.3 million lari, in foreign currency - by 1.8 percent, or 92.5 million lari.

Some 870.7 million lari in national currency (4.8 percent or 39.9 million lari more) in credits were issued to resident legal entities and 3 5 million lari - in foreign currency (3.3 percent, or 112.3 million lari more).

The largest share of a full range of corporate lending - 47.5 percent accounts for the sphere of trade. The volume of loans in this sector increased by 6.1 percent or 118.0 million lari, in March compared to February 2012, and amounted to 2.1 billion. The share of loans granted to the industrial sector accounted for 20.1 percent, which amounted to 873.2 million lari. Some 10.2 percent accounted for construction, equivalent to 443.4 million lari.

Lending to individuals increased by 0.7 percent during March 2012, or 21.5 million lari, and exceeded 3.2 billion lari to April 1.

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