Georgian TBC Bank sees increase in volume of non-performing loans

Business Materials 19 April 2021 17:42 (UTC +04:00)
Georgian TBC Bank sees increase in volume of non-performing loans

BAKU, Azerbaijan, April 19

Tamilla Mammadova – Trend:

Uncertainty and rapid change of the reality are the main challenges for the Georgian private sector in the current situation, said Giorgi Tkhelidze, Deputy General Director of TBC Bank, Trend reports via Georgian media.

He also spoke about the expected economic growth rate and noted that if the country does not announce a new COVID-19 related lockdown, then reaching 4 percent growth is realistic, but it needs acceleration of vaccination pace and to follow the safety rules.

"In order to complete the vaccination late this year, it is necessary to roll out the COVID-19 jabs as soon as possible and a public campaign on vaccination is necessary to overcome this crisis. On the other hand, we should try our best to avoid a third long-term lockout, and in this case, reaching 4 percent growth is realistic. Therefore, adaptation, protection, and rapid vaccination are very important," said Tkhelidze.

Speaking about the results of TBC Bank, Tkhelidze said that despite the COVID-19 pandemic, the volume of non-performing loans (NPLs) increased by only 2 percentage points to 4.7 percent, which was due to their close communication with the customer and restructuring.


Follow the author on Twitter: @Mila61979356