Georgian banks' loan portfolio up
BAKU, Azerbaijan, Sep.1
By Tamilla Mammadova – Trend:
Despite the pandemic and the economic crisis, Georgian banks did not reduce lending, but on the contrary, increased it, Trend reports via the National Bank of Georgia.
According to the National Bank, the banks' loan portfolio increased by 17.7 percent month-on-month.
In July 2020, compared to the previous month, banks increased lending to the by 670.1 million laris ($219 million), up to 33.97 billion laris ($11.08 billion).
Some 89.5 percent of the loan portfolio was long-term loans, 60.7 percent of which were issued in foreign currency. The share of foreign currency loans in short-term loans is 41.3 percent.
As reported, the growth of the loan portfolio was mainly influenced by the growth of both loans in foreign currency and loans denominated in the national currency.
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