BAKU, Azerbaijan, May 17
Tamilla Mammadova – Trend:
Georgian microfinance organizations received profits worth 23 million lari ($6.7 million) in 1Q2021, Trend reports via the National Bank of Georgia (NBG).
As of today, 39 microfinance organizations are operating in the country and the total volume of their assets amounts to 1.54 billion lari ($450.5 million).
According to the statistics, microfinance organizations issued loans of 1.25 billion lari ($365.5 million). The volume of total loans is 681,000, correspondingly the average loan totals 1,831 lari ($535.65).
Loans by categories:
Pawnshop loans - portfolio of 568 million lari ($166.1 million), 485,000 loans; interest income in 1Q2021 was 14.5 million lari ($4.2 million);
Consumer loans - portfolio of 267 million lari ($78.1 million), 53,700 loans; interest income - 32.9 million lari ($9.6 million);
Loans issued in trade and service sector - portfolio of 203.4 million lari ($59.5 million), 36,500 loans; interest income - 11.5 million lari ($3.5 million);
Loans issued in agricultural sector – portfolio of 106.8 million lari ($31.2 million), 21,400 loans; interest income - 5.9 million lari ($1.7 million);
Installment – portfolio of 49.2 million lari ($14.3 million), 81,900 loans; interest income -1.5 million lari ($438,817);
Other categories of loans - portfolio of 9.7 million lari ($2.8 million), 833 loans; interest income - 0.9 million lari ($263,290);
Loans issued for legal entities – portfolio of 42.4 million lari ($12.4 million); interest income - 2.1 million lari ($614,344).
In total, microfinance organizations received interest income of 75.4 million lari ($22.05 million) in the first quarter of 2021. The volume of non-interest income was 8.7 million lari ($2.5 million).
Microfinance organizations employ 4,100 persons, the sector has issued salaries of a total of 21.6 million lari ($6.3 million).
---
Follow the author on Twitter: @Mila61979356