Georgian commercial banks reduces lending
Georgia, Tbilisi, May 30 /Trend N.Kirtzkhalia/
The volume of credit investments by commercial banks in Georgia decreased by 0.6 percent, or 49.8 million lari ($1 = 1.63 lari)in April compared to the previous month to the 7.8 billion lari as of May 1.
According to the National Bank, the volume of loans in national currency increased by two percent or 50.9 million lari, and the volume of loans in foreign currency decreased by 1.9 per cent, or 100 7 million lari during the same period.
The largest share (47.8 percent) in a full range of corporate lending accounts for the area of trade. The volume of loans in this sector decreased by 1.2 percent or 25.3 million lari in April compared with March 2012, and reached two billion.
The share of loans to industry, totaled 19.5 percent of total credit, which equals 829.8 million lari (five per cent or 43.4 million lari less than in March)
Some 9.9 percent fall on construction, which amounts to 423 million lari (4.6 percent, or 20.4 million lari less). Accordingly, these three areas account for 77.2 percent of total lending.