Georgia reveals profit of microfinance sector
BAKU, Azerbaijan, Nov. 26
By Tamilla Mammadova – Trend:
The profit of the microfinance sector in Georgia for 9 months of 2020 amounted to 12.7 million lari ($3.8 million), Trend reports via the National Bank of Georgia.
The size of the loan portfolio of the microfinance sector is 1.1 billion lari ($332.3 million), of which the largest amount - 473 million lari ($142.9 million) - falls on collateralized loans.
In second place are consumer loans - 260 million lari ($78.5 million), in third place - loans for trade financing (199 million lari ($)).
As of September 2020, the total assets of the microfinance sector amounted to 1.39 billion lari ($420 million).
According to the National Bank, the annual interest rate of the microfinance sector increased by 40 million lari ($12.08 million) to 205 million lari ($61.9 million).
Non-interest income amounted to 33 million lari ($9.9 million), decreasing by 16 million lari ($4.8 million) annually.
Follow the author on Twitter: @Mila61979356