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Larization of loans increase in Georgia

Business Materials 2 March 2021 18:09 (UTC +04:00)
Larization of loans increase in Georgia

BAKU, Azerbaijan, March 2

By Tamilla Mammadova – Trend:

The volume of lending decreased by 48.2 million lari ($14.5 million) in January 2021 compared with December 2020 in Georgia, Trend reports via the National Bank of Georgia (NBG).

The loan larization ratio increased by 0.18 percent and amounted to 44.14 percent.

As reported, interest rates on all banking products increased in January 2021. In particular, interest on mortgage loans stood at 10.9 percent, which is 0.26 percent more than in December 2020. Car loans rose by 2 percent to 23.6 percent, interest on pawnshop loans increased from 18.1 percent to 19.3 percent.

The interest rate on consumer loans which are the most popular has remained almost unchanged and amounted to 20.56 percent against 20.28 percent in December 2020.

Interest on business loans in national currency also increased from 11.5 percent to 12.09 percent.

Interest rates declined only on business loans in foreign currency - from 7.13 percent to 6.17 percent.

In January, Georgian banks earned 410.9 million lari ($123.9 million), operating expenses stood at 305.9 million lari ($92.2 million).

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