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Volume of loans issued by Georgian commercial banks up

Finance Materials 25 January 2021 18:36
Volume of loans issued by Georgian commercial banks up

BAKU, Azerbaijan, Jan. 25

By Tamilla Mammadova – Trend:

The volume of loans issued by Georgia commercial banks (excluding interbank loans) in December 2020 increased by 858.68 million lari ($260.9 million) or by 2.30 percent compared to the previous month and constituted 38.22 billion lari ($11.6 billion) by January 1, 2021, Trend reports via the National Bank of Georgia (NBG).

The volume of loans in national currency increased by 676.90 million lari ($205.7 million), 4.16 percent and the volume of loans in foreign currency increased by 181.77 million lari ($55.2 million) or by 0.86 percent in the same period (exchange rate effect excluded, increased by 0.74 percent.

By the end of December 2020, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 5.42 billion lari ($1.6 billion), and foreign currency denominated loans constituted 13.20 billion lari ($4.01 billion).

During December 2020, the volume of lending to resident household sector increased by 1.51 percent or 279.75 million lari, and constituted 18.75 billion lari ($5.6 billion) by January 1, 2021.

As of January 1, 2021, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks.

In December 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 966.9 million lari ($293.8 million), or by 1.73 percent and constituted 56.9 billion lari ($17.2 billion).

The banking sector’s equity capital equals 5.85 billion lari ($1.7 billion), which makes up 10.28 percent of the commercial banks total assets.

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