BAKU, Azerbaijan, June 25
By Tamilla Mammadova – Trend:
The volume of loans issued by Georgian commercial banks (excluding interbank loans) in May 2020 decreased by 25.40 million lari ($8.3 million) or by 0.07 percent compared to the previous month and constituted 34.18 billion lari ($11.2 billion) by June 1, 2020, Trend reports referring to National Bank of Georgia (NBG).
The volume of loans in national currency decreased by 28.85 million lari ($9.4 million) or by 0.20 percent and the volume of loans in foreign currency increased by 3.45 million lari ($1.1 million) or by 0.02 percent in the same period.
By the end of May 2020, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 4.44 billion lari ($1.4 billion), and foreign currency denominated loans constituted 12.18 billion lari ($3.9 billion).
In the reporting period, the volume of lending to resident household sector increased by 0.29 percent or 48.59 million lari ($15.9 million), and constituted 16.72 billion lari ($5.4 billion) by June 1, 2020.
Larization ratio for total loans constituted 41.86 percent by June 1, 2020 and decreased by 0.05 percentage point compared to May 1.
As of June 1, 2020, the banking sector in Georgia was represented by 15 commercial banks, including 14 foreign-controlled banks.
In May 2020, compared to the previous month, the total assets of Georgian commercial banks in the current prices increased by 331.16 million lari ($108.8 million) or by 0.67 percent compared to April 2020 and constituted 49.45 billion lari ($16.2 billion).
The banking sector’s equity capital stands at 5.13 billion lari ($1.6 billion), which makes up 10.37 percent of the commercial banks total assets.
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