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Trade remains main target of Georgian commercial banks for financing

Finance Materials 19 January 2021 15:25
Trade remains main target of Georgian commercial banks for financing

BAKU, Azerbaijan, Jan. 19

By Tamilla Mammadova – Trend:

Commercial bank loans granted in both national and foreign currencies to the resident legal entities by type of activity from January through November 2020 has dropped as compared with the same period of the prior year in Georgia, Trend reports via the National Bank of Georgia (NBG).

With 3.84 billion lari ($11.6 billion) both in national and foreign currencies, trade remains the main target of Georgian commercial banks for financing.

According to the NBG, the total volume of commercial banks loans granted in national currency to the resident legal entities by type of activity amounted to 6.62 billion lari ($2.01 billion) from January through November 2020, down from 7.92 billion lari ($2.4 billion) as of the same period of the prior year.

The loan portfolio in foreign currency was 6.71 billion lari ($2.04 billion) during the reporting period, down from 8.43 billion lari ($2.5 billion) from January through November 2019.

Following the trade, which amounted to 3.84 billion lari ($1.1 billion) the second business activity by the volume of the loan is the industry – 3.76 billion lari ($1.1 billion), both in national and foreign currencies, and construction – 1.83 billion lari ($556.4 million), both in national and foreign currencies.

The share of loan portfolio per each business activity granted in national currency from January through November 2020 was as follows: agriculture, forestry, fishes – 211.85 million lari ($64.4 million); industry – 2.15 billion lari ($653.7 million); construction – 667.91 million lari ($203.09 million); trade – 2.09 billion lari ($635.5 million); hotels and restaurants – 94.17 million lari ($28.6 million); transport and communication – 84.89 million lari ($25.8 million); financial intermediation – 794.43 million lari ($241.5 million); real estates and researches – 122.39 million lari ($37.2 million); education – 14.76 million lari ($4.4 million); healthcare and social services – 156.18 million lari ($47.4 million) and other services – 218.14 million lari ($66.3 million).

As for the loan portfolio per business activities granted in the foreign currency was as follows: agriculture, forestry, fishes – 147.62 million lari ($44.8 million); industry – 1.60 billion lari ($486.5 million); construction – 1.16 billion lari ($352.7 million); trade – 1.74 billion lari ($529 million); hotels and restaurants – 595.17 million lari ($180.9 million); transport and communication – 165.05 million lari ($50.1 million); financial intermediation – 192.72 million lari ($58.6 million); real estate and researches – 642.33 million lari ($195.3 million); education – 46.27 million lari ($14.06 million); healthcare and social services – 167.16 million lari ($50.8 million) and other services – 238.82 million lari ($72.6 million).

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