BAKU, Azerbaijan, March 27
Tamilla Mammadova – Trend:
It is predicted that the results for the 1Q2021 and 2Q2021 will be rather unfavorable for the Georgian banking sector due to the difficult economic situation in the country, said Vakhtang Butskhrikidze, General Director of TBC Bank, Trend reports via Georgian media.
“We have relatively better economic expectations for the second half of 2021. We think that the first half of 2021 will be unfavorable in terms of profitability, we expect the situation to improve, the profitability of banks will be better in the second half of the year," Butskhrikidze said.
According to him, it is expected that the country's economy will grow, the demand for loans in the banking sector will increase.
"The banking sector has more than enough liquidity," said Butskhrikidze.
According to the National Bank of Georgia, the volume of loans issued by commercial banks (excluding interbank loans) in February 2021 increased by 0.68 percent compared to the previous month and constituted 38.43 billion lari ($11.5 billion) by March 1, 2021.
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