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Georgia reveals TOP-5 banks with highest value of residential houses

Finance Materials 26 February 2021 04:28 (UTC +04:00)
Georgia reveals TOP-5 banks with highest value of residential houses

BAKU, Azerbaijan, Feb.24

By Tamilla Mammadova – Trend:

Real estate, namely housing, worth 27.769 billion lari ($83.8 billion) was pledged as collateral in Georgian banks to obtain a loan, Trend reports via the financial statement of commercial banks for the 4th quarter of 2020.

According to the report, the largest volume the real estate worth 12.2 billion lari ($3.6 billion) was pledged at Bank of Georgia to meet the demand, followed by TBC Bank, which living spaces worth a total of 9.614 billion lari ($2.9 billion) in 2020, VTB Bank is the third with housing worth 1.634 billion lari ($4.9 billion) pledged as collateral.

Top-5 banks with the highest value of residential houses:

• Bank of Georgia - 12.277 billion lari ($3.7 billion);

• TBC Bank - 9.614 billion lari ($2.9 billion);

• VTB Bank - 1.634 billion lari ($493.6 million);

• Terra Bank - 1.589 billion lari ($480 million);

• Liberty Bank - 962.05 million lari ($290.6 million).

In 2019, the real estate worth 22.610 billion lari ($6.8 billion) was pledged as collateral in banks to obtain loans.

In the reporting period 15 commercial banks operated in the market.

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