BAKU, Azerbaijan, March 1
By Tamilla Mammadova – Trend:
Overdue debt increased by 68.7 million lari ($20.7 million) in January 2021 compared to the previous month and amounted to 602.2 million lari ($181.6 million) in Georgia, Trend reports via the National Bank of Georgia (NBG).
As reported, the share of overdue loans in the loan portfolio of commercial banks amounted to 1.6 percent.
According to the National Bank, 38.7 percent of overdue loans are denominated in the national currency. During the reporting period, the level of dollarization of the entire loan portfolio increased by 0.2 percentage points to 55.5 percent.
"Compared to January last year, interest rates on loans in foreign currency increased by 0.9 percentage points, and on loans in national currency - by 0.2 percentage points," explained the NBG.
The rates on deposits of legal entities in foreign currency remain unchanged at the level of 2.6 percent. Also, interest rates on foreign currency deposits of individuals remain unchanged at 1.9 percent.
According to the National Bank, in January 2021, compared to the previous month, the banking system's liabilities on deposits increased by 253 million lari ($76.3 million) and amounted to 34.9 billion lari ($10.5 billion). Compared to the corresponding period of 2020, the total volume of deposits increased by 31.4 percent.
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