BAKU, Azerbaijan, May 31
By Tamilla Mammadova - Trend:
The value of overdue loans decreased by 10.8 million lari ($3.3 million) in April 2020 month-on-month in Georgia, Trend reports referring to National Bank of Georgia (NBG).
The volume of overdue loan portfolio amounts to 492.6 million lari ($155.07 million), which is 1.4 percent of commercial banks’ credit portfolio. Some 34.9 percent of overdue loans is denominated in national currency.
As reported, lending of the economy decreased by 776.2 million lari ($244.3 million) in April 2020 comparing to the previous month and equaled to 33.72 billion lari ($10.6 billion).
During the reporting period, loans in national currency increased by 11.9 million lari ($3.7 million) or by 0.1 percent and amounted to 14.71 billion lari ($4.6 billion). The volume of loans issued in foreign currency in April decreased by $43.5 million (0.7 percent) compared to the previous month and amounted to $6.27 billion at the end of the period.
According to the National Bank, 60.6 percent of loans in this category were loans to legal entities, and 89.4 percent - long-term loans.
“The decrease in lending in foreign currency is mainly due to the reduction in long-term lending to legal entities,” NBG said.
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