Volume of overdue loans in Georgia decreases
Baku, Azerbaijan, August 31
By Tamilla Mammadova – Trend:
The volume of overdue loans in Georgia decreased by 10.7 million lari in July 2019 compared to June 2019 and amounted to 480.3 million lari, Trend reports with reference to the National Bank of Georgia.
Their share in the loan portfolio of commercial banks amounted to 1.6 percent.
According to the National Bank, in July 2019, 59.6 percent of overdue loans issued were in foreign currency, and 40.4 percent in lari.
In July 2019, lending to the economy by commercial banks increased by 664.2 million lari compared to the previous month and reached 28.87 billion lari.
The growth rate of banks' loan portfolio amounted to 26 percent. However, the depreciation of the lari played a significant role in this increase. Without the influence of the exchange rate, annual growth was 13.6 percent.
Loans in national currency in July 2019 increased by 316.9 million lari (2.5 percent) compared to June 2019 and reached 12.93 billion lari.
The volume of loans in foreign currency in July decreased by $51.4 million (0.9 percent) and amounted to $5.67 billion. The decrease in lending in foreign currency is mainly due to the reduction in lending to individuals.
(1 USD = 2.94 GEL on August 31)