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Central Bank reveals volume of property appropriated by Georgian commercial banks

Finance Materials 18 March 2021 16:24 (UTC +04:00)
Central Bank reveals volume of property appropriated by Georgian commercial banks

BAKU, Azerbaijan, March 18

Tamilla Mammadova – Trend:

The value of properties appropriated by Georgian commercial banks acquired as a result of pledge, amounted to 250.1 million lari ($75.5 million) as of January 2020, Trend reports via the Financial Sector Review published by the National Bank of Georgia (NBG).

According to the review, the value of property appropriated by banks increased annually by 22 million lari ($6.6 million). In particular, in January 2019, this figure was 228.1 million lari ($68.9 million).

At the same time, according to the NBG, in January the amount of loans written off amounted to 10.6 million lari ($3.2 million) against 15.4 million lari ($4.6 million) in the same period of 2020.

According to the data for the fourth quarter of 2020, the Bank of Georgia appropriated property worth 109.41 million lari ($33.03 million) against 99.06 million lari ($29.9 million) in the same period of last year. TBC Bank is the second, it appropriated the real estate and movable property worth 77.13 million lari ($23.2 million) that is 1.24 million lari ($374,444) less compared to the same period of last year.

As of December 31, 2020, the two major banks account for 76 percent of the property owned by banks.

VTB Bank is in third place with 19.88 million lari ($6 million) that is 9.8 million lari ($2.9 million) more compared to the data of the four quarters of 2019.

Followed by Basisbank with 16.57 million lari ($5 million), while Halyk Bank Georgia (10.60 million lari or $3.2 million) is at the bottom of the top five.

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