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Volume of overdue loans decreases in Georgia

Finance Materials 1 April 2021 14:43 (UTC +04:00)
Volume of overdue loans decreases in Georgia

BAKU, Azerbaijan, April 1

Tamilla Mammadova – Trend:

The volume of overdue loans has decreased by 23.6 million lari ($) in February 2021 year-on-year in Georgia and amounted to 578.5 billion lari ($170.5 billion) in February, Trend reports via the National Bank of Georgia (NBG).

The dolarization rate of the total loan portfolio declined 0.2 percent to 55.4 percent.

A volume of overdue loans made 1.5 percent of the portfolio, the loans denominated in the national currency accounted for 38.9 percent.

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

In February 2021, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 904.05 million lari ($268.9 million) and constituted 57.31 billion lari ($17.04). The banking sector's equity capital equals 6.1 billion lari ($1.8 billion), which makes up 10.64 percent of the commercial banks total assets.

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