Volume of loans issued by Georgian commercial banks increases

Volume of loans issued by Georgian commercial banks increases

BAKU, Azerbaijan, December 25

By Tamilla Mammadova – Trend:

The volume of loans issued by commercial banks of Georgia (excluding interbank loans) in November 2019 increased by 614.09 million lari ($214.8 million) or by two percent compared to October 2019 and constituted 31.3 billion lari ($10.9 billion) by December 1, 2019, Trend reports referring to the National Bank of Georgia.

The volume of loans in national currency increased by 237.3 million lari (over $83 million) or by 1.73 percent and the volume of loans in foreign currency increased by 376.7 million lari ($131.8 million) or by 2.21 percent in the same period.

By the end of November 2019, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 4.4 billion lari ($1.5 billion), showing increase of 2.74 percent compared to October 2019, and foreign currency denominated loans constituted 10.4 billion lari ($3.6 billion), which is increase of 2.19 percent.

During November 2019, the volume of lending to resident household sector increased by 1.5 percent or 230.7 million lari ($80.7 million), and constituted 15.6 billion lari ($5.4 billion) by December 1, 2019.

Larization ratio for total loans constituted 44.4 percent by December 1, 2019, and decreased by 0.11 percentage point, compared to November 1, 2019.

In November 2019, compared to October 2019, the total assets of Georgian commercial banks (in current prices) increased by 140.4 million lari ($49.1 million) or by 0.3 percent and constituted 46.5 billion lari ($16.2 billion).

As of December 25, 2019, the banking sector's own funds (equity capital) equal 5.6 billion lari ($1.9 billion), which makes up 12 percent of the commercial banks total assets.

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


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