Volume of loans issued by Georgian commercial banks down
BAKU, Azerbaijan, Sept. 26
By Tamilla Mammadova – Trend:
The volume of loans issued by Georgian commercial banks (excluding interbank loans) in August 2020 decreased by 1.93 million lari ($588,458) or by 0.01 percent compared to the previous month and constituted 34.49 billion lari ($10.5 billion) by September 1, 2020, Trend reports via National Bank of Georgia.
The volume of loans in national currency increased by 191.06 million lari ($58.2 million) and the volume of loans in foreign currency decreased by 192.99 million lari ($58.8 million) or by 0.98 percent in the same period (exchange rate effect excluded, decreased by 1.13 percent).
By the end of August 2020, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 4.42 billion lari ($1.3 billion), and foreign currency denominated loans constituted 11.97 billion lari ($3.6 billion).
During August 2020, the volume of lending to resident household sector increased by 1.26 percent or 216.32 million lari ($65.9), and constituted 17.32 billion lari ($5.2 billion) by September 1, 2020. The larization ratio for total loans constituted 43.28 percent by September 1, 2020 and increased by 0.56 percentage point (exchange rate effect excluded, increased by 0.59 percentage point), compared to August 1, 2020.
As of September 1 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks. In August 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 197.39 million lari ($60.1 million) or by 0.39 percent and constituted 50.98 billion lari ($15.5 billion).
The banking sector's equity capital equals 5.38 billion lari ($1.6 billion), which makes up 10.55 percent of the commercial banks total assets.
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