BAKU, Azerbaijan, June 17
By Tamilla Mammadova - Trend:
Georgia’s five largest financial institutions appropriated borrowers’ property worth 203.6 million lari ($66.7 million) in the first quarter of 2020 as payment of overdue debts, Trend reports referring to the National Bank of Georgia (NBG).
In 1Q2020, Bank of Georgia received movable and immovable property in the amount of 100.1 million lari ($32.8 million) against 67.4 million lari ($22 million) in the same period of 2019. The bank’s assets in the reporting period amounted to 17.9 billion lari ($5.8 billion) compared to 13.8 billion lari ($4.5 billion) in the same period of 2019.
TBC Bank appropriated the property worth 79.7 million lari ($26.1 million) against 51.06 million ($16.7 million) lari last year. The bank's assets in the reporting period amount to 19.2 billion lari ($6.2 billion) compared to 14.7 billion lari ($4.8 billion) in the same period of 2019.
Basis Bank is the third in the list with 13.5 million lari ($4.4 million) worth of appropriated property, its assets amount to 1.7 billion lari ($557.2 million).
VTB Bank received property worth 10.4 million lari ($3.4 million) as payment of overdue debts compared to 8.4 million lari ($2.7 million) in 2019. The bank’s assets in the first quarter amounted to 1.7 billion lari ($557.2 million) against 1.5 billion lari ($491.6 million) in the same period of 2019.
In the first quarter of 2020, Liberty Bank appropriated property worth 38.6 million lari ($12.6 million) against 66.7 million lari ($21.8 million) in the same period of 2019. The bank’s assets in the reporting period amounted to 2.3 billion lari (753.8 million) compared to 1.9 billion lari ($622.7 million) in the same period of 2019.
---
Follow the author on Twitter: @Mila61979356