Volume of loans issued by commercial banks of Georgia increases
Baku, Azerbaijan, August 28
By Tamilla Mammadova – Trend:
The volume of loans issued by commercial banks of Georgia (excluding interbank loans) in July 2019 increased by 653.58 million lari or by 2.28 percent compared to the previous month and amounted 29.35 billion lari by August 1, 2019, Trend reports via the National Bank of Georgia.
The volume of loans in national currency increased by 341.81 million lari (2.76 percent) and the volume of loans in foreign currency increased by 311.77 million lari or by 1.91 percent (exchange rate effect excluded, decreased by 0.31 percent).
By the end of July 2019, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 3.88 billion lari (3.69 percent more compared to the previous month), and foreign currency denominated loans constituted 9.59 billion lari (growth by 3.04 percent). Exchange rate effect excluded volume of lending in foreign currency increased by 0.82 percent.
In July 2019, the volume of lending to resident household sector increased by 1.44 percent or 214.34 million lari, and amounted to 15.11 billion lari by August 1, 2019.
Larization (de-dollarization) ratio for total loans constituted 43.37 percent by August 1, 2019 and increased by 0.20 percentage point (exchange rate effect excluded, increased by 0.75 percentage point), compared to July 1, 2019.
(1 USD = 2.94 GEL on August 28)