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Volume of loans issued by Georgian commercial banks increases

Finance Materials 25 November 2019 17:41 (UTC +04:00)
Volume of loans issued by Georgian commercial banks increases

BAKU, Azerbaijan, November 25

By Tamilla Mammadova – Trend:

The volume of loans issued by Georgian commercial banks (excluding interbank loans) in October 2019 increased by 635.2 million lari ($214.2 million) or by 2.11 percent compared to September 2019 (exchange rate effect excluded, increase by 1.63 percent), Trend reports referring to the National Bank of Georgia (NBG).

The volume of loans issued by commercial banks constituted 30.7 billion lari ($10.3 billion) by November 1, 2019.

In October 2019, the volume of loans in national currency increased by 204.7 million lari ($69 million) or 1.52 percent compared to September 2019, while the volume of loans in foreign currency increased by 430.4 million lari ($145.1 million) or by 2.59 percent (exchange rate effect excluded, increase by 1.71 percent).

As of November 1, 2019, the total volume of denominated loans to resident legal entities issued by commercial banks national currency amounted to 4.3 billion lari ($1.4 billion), 1.04 percent more compared to the previous month, and foreign currency denominated loans constituted 10.2 billion lari ($3.4 billion).

During October 2019, the volume of lending to resident household sector increased by 1.30 percent or 198.1 million lari ($66.8 million) compared to September 2019, and constituted 15.4 billion lari ($5.1 billion) by November 1, 2019.

Larization ratio for total loans constituted 44.51 percent by November 1, 2019, haing decreased by 0.26 percentage point (exchange rate effect excluded, decrease by 0.05 percentage point), compared to October 1, 2019.

As of November 1, 2019, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks.

In October 2019, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 546.6 million lari ($184.3 million) or by 1.2 percent and constituted 46.3 billion lari ($15.6 billion).

This month the banking sector's own funds (equity capital) equaled 5.5 billion lari ($1.8 billion), which made up 11.9 percent of the commercial banks total assets.

(1 USD=2.97 GEL on November 25)

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