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Volume of loans issued by commercial banks of Georgia decreases

Finance Materials 27 March 2020 15:10
Volume of loans issued by commercial banks of Georgia decreases

BAKU, Azerbaijan, March 27

By Tamilla Mammadova – Trend:

The volume of loans issued by commercial banks of Georgia (excluding interbank loans) in February 2020 decreased by 294.40 million lari ($85.3 million) or by 0.92 percent compared to January 2020 and stood at 31.63 billion lari ($9.1 billion) by March 1, 2020, Trend reports via National Bank of Georgia.

The volume of loans in national currency increased by 124.34 million lari ($36.06 million) or by 0.87 percent and the volume of loans in foreign currency decreased by 418.74 million lari ($121.4 million) or by 2.37 percent in the same period (exchange rate effect excluded, increased by 1.17 percent).

By the end of February 2020, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 4.53 billion lari ($1.3 billion) or by 0.18 percent less compared to the previous month, and foreign currency denominated loans stood at 10.49 billion lari ($3.04 billion) or by 1.90 percent less.

During February 2020, the volume of lending to resident household sector increased by 0.38 percent or 60.73 million lari, ($17.6 million) and made up 15.82 billion lari ($4.5 billion) by March 1, 2020.

Larization ratio for total loans constituted 45.47 percent by March 1, 2020 and increased by 0.81 percentage point (exchange rate effect excluded, decreased by 0.07 percentage point), compared to February 1, 2020.

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