Georgia not to soften regulations on consumer loans

Business Materials 19 July 2019 12:52 (UTC +04:00)

Baku, Azerbaijan, July 19

By Tamilla Mammadova – Trend

Georgia does not plan to soften the regulations on consumer loans at this stage, said Head of the Association of Banks of Georgia Alexander Dzneladze, Trend reports with reference to bizzone.info.

He noted that the National Bank changed the standards in terms of mortgage lending, and allowed banks to evaluate the solvency of potential buyers of apartments by their internal models in certain cases, but in consumer lending this approach is not planned.

According to him, the regulations are much more loyal in relation to car loans, because the leasing system generally does not provide any control over customer income.

Earlier, Head of Toyota Center-Tbilisi Irakli Gurchiani said that after the introduction of new regulations by banks, the company's sales decreased by 50 percent. Accordingly, the decline in sales of car dealers is to a large extent related to tightening of credit regulations.