Total assets of commercial banks in Georgia grоw by 8.5%

Business Materials 25 July 2019 18:59 (UTC +04:00)

Baku, Azerbaijan, July 25

By Tamilla Mammadova – Trend:

The total assets of commercial banks of Georgia in January-June 2019 increased by 3.38 billion lari, or 8.5 percent to 43.64 billion lari, reports Trend with reference to the National Bank of Georgia.

During the second quarter of 2019, the assets of banks increased by 9.3 percent, over the year (from the end of June 2018 to the end of June 2019) - by 20.7 percent.

As of July 1, 2019, the loan portfolio of banks reached 28.86 billion lari (an increase of 8.6 percent since the beginning of the year). Provisions for possible loan losses amounted to 1.41 billion lari (4.9 percent of the loan portfolio).

In the structure of crediting, 13.21 billion lari were allocated to finance the sectors of the national economy, the largest share fell on the industry (25.7 percent) and trade (22 percent).

They are followed by construction (11.4 percent), real estate operations (10.2 percent), hotels and restaurants (8.9 percent), financial intermediation (5.9 percent), health care and social services (4.1 percent), agriculture (3.1 percent), transport and communications (2.9 percent).

(1 USD = 2,89 GEL on July 25)