Review of Georgian banking sector for November 2019
BAKU, Azerbaijan, Jan. 16
By Tamilla Mammadova – Trend:
Georgian commercial banks seized 210.9 million lari ($73.3 million) of property and legal entities overdue loans as of November 2019, Trend reports citing the National Bank of Georgia.
As reported, this is 45.7 million lari ($15.8 million) more than in the same period in 2018, when this indicator reached 165.2 million lari ($57.4 million).
In addition, as of November 2019, debts of Georgian banking sector amounting to 22.5 million lari ($7.8 million) were written off from the banking sector, while in the same period of 2018 this figure was 27.8 million lari ($9.6 million).
Written-off loans in the amount of 9.5 million lari ($3.3 million) were also withdrawn in November 2019, while in November 2018 this figure reached 12.1 million lari ($4.2 million).
As of December 25, 2019, Georgian banking sector's own funds (equity capital) equaled 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 was represented by 15 commercial banks, including 14 foreign-controlled banks.
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