BAKU, Azerbaijan, Sept. 25
By Tamilla Mammadova – Trend:
Loans and deposits, expressed as a percentage of GDP, increased by 3.6 and 4.9 percentage points, respectively by the end of the second quarter of 2020 compared to the beginning of the year in Georgia, Trend reports via the Policy and Management Consulting Group (PMCG) International development company.
By the end of the second quarter of 2020, bank assets, expressed as a percentage of GDP, increased to 98.4 percent.
By the end of July of 2020, the volume of loans was increased by 19 percent, compared to July of 2019.
The average interest rates on loans in January-July of 2020 denominated in national currencies were 0.9 percentage points higher than in January-July of 2019, while the average interest rates on loans denominated in foreign currencies were 0.8 percentage points less.
By the end of July of 2020, the volume of deposits in Georgia was increased by 21 percent, compared to July of 2019.
The average interest rates on deposits in January-July of 2020 denominated in national currencies were 1.2 percentage points higher than in January-July of 2019, while the average interest rates on deposits denominated in foreign currencies were 0.4 percentage points less.
In January-July of 2020 trade had the highest share of total loans with 29.5 percent.
In January-July of 2020, the share of construction in total loans increased by 3.6 percentage points, while the share of financial intermediation decreased by 8.2 percentage points, compared to the corresponding period of 2019.
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