BAKU, Azerbaijan, Feb.11
By Tamilla Mammadova – Trend:
The volume of loans issued by Georgian MFOs increased by 55 million lari ($16.6 million) as of the fourth quarter of 2020 compared to the same period of 2019, Trend reports via the consolidated financial statements published on the National Bank’s website.
According to the report, MFOs ended 2020 with a profit of 44.85 million lari ($13.5 million) against 112,123 lari ($33,963) in 2019.
In the fourth quarter of 2020, the number of loans granted by MFOs decreased. In particular, in the fourth quarter of last year, MFOs issued a total of 662,412 loans compared to 708,565 in the same period of the previous year.
Consolidated financial statements show that in the fourth quarter of 2020, 660,935 loans were issued to individuals and 1,477 loans to legal entities. The volume of loans issued in 2019 amounted to 1.12 billion lari ($339.2 million), in 2020 - 1.18 billion lari ($357.4 million).
The sectors massively lent in the fourth quarter of 2020 are as follows:
Pawnshop - 468,191 loans worth 519.27 million lari ($157.2 million),
Installment - 80,888 loans worth 48.12 million lari ($14.5 million),
Consumer loans - 52,433 loans worth 264.79 million lari ($80.2 million),
Trade and services - 34,644 loans worth 199.53 million lari ($60.4 million),
Agriculture - 19,464 loans worth 99.78 million lari ($30.2 million).
---
Follow the author on Twitter: @Mila61979356