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Trade lending remains priority for Georgian banks

Business Materials 20 November 2020 08:48 (UTC +04:00)
Trade lending remains priority for Georgian banks

BAKU, Azerbaijan, Nov. 20

By Tamilla Mammadova – Trend:

In the 3rd quarter of 2020, despite the pandemic, trade was a priority area of ​​lending for Georgian banks, Trend reports via Georgian media.

In September 2020, the loan portfolio of banks increased by 12 percent compared to the same period in 2020.

In terms of sectors, trade, construction, and industry are leading in the overall insurance structure for 9 months of 2020. Lending to the energy sector has declined.

During the reporting period, banks issued 3.1 billion lari ($944.5 million) for trade financing, construction 1.3 billion lari ($396.1 million), industry - 900 million lari ($274.2 million).

According to forecasts of the National Bank, insignificant growth of demand for business and retail lending is expected in the 4th quarter.

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