Volume of loans issued by Georgian commercial banks increases
BAKU, Azerbaijan, Jan.28
By Tamilla Mammadova – Trend:
The volume of loans issued by Georgian commercial banks (excluding interbank loans) in December 2019 increased by 558.65 million lari ($194.1 million) or by 1.78 percent compared to November 2019 and constituted 31.92 billion lari ($11 billion) by January 1, 2020, Trend reports citing National Bank of Georgia (NBG).
As reported, in December 2019, the volume of loans in national currency increased by 319.74 million lari ($111.1 million) or 2.30 percent and the volume of loans in foreign currency increased by 238.91 million lari ($83 million) or by 1.37 percent in the same period.
In December 2019, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 4.58 billion lari ($1.5 billion), 3.38 percent more compared to November 2019, and foreign currency denominated loans constituted 10.67 billion lari ($3.7 billion).
During December 2019, the volume of lending to resident household sector increased by 1.14 percent or 179.07 million lari ($62.2 million), and constituted 15.83 billion lari ($5.5 billion) by January 1, 2020.
Larization ratio for total loans constituted 44.62 percent by January 1, 2020, and increased by 0.22 percentage point compared to December 1, 2019.
As of January 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks.
In December 2019, the total assets of Georgian commercial banks (in current prices) increased by 721.8 million lari ($250.8 million) or by 1.6 percent compared to November 2019, and constituted 47.2 billion lari ($16.4 billion).
The banking sector's own funds (equity capital) equal 5.7 billion lari ($1.9 billion), which makes up 12.2 percent of the commercial banks total assets.
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