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Volume of non-performing loans down in Georgian commercial banks

Finance Materials 30 July 2021 07:01 (UTC +04:00)
Volume of non-performing loans down in Georgian commercial banks

BAKU, Azerbaijan, July 30

Tamilla Mammadova – Trend:

The volume of non-performing loans is down in Georgian commercial banks, Trend reports via the National Bank of Georgia (NBG).

According to the document, as of May 2021, the volume of the non-performing loans amounted to 3 billion lari ($972 million), or 7.6 percent of the total portfolio. For comparison, this rate stood at 8.5 percent in March.

The decline of non-performing loans indicates that the financial system is improving. Early in 2021, the NBG predicted that the volume of non-performing would reach 10 percent this year, but it seems the forecast failed.

Dynamic of non-performing loans by months:

January 2021 – 8.4 percent
February 2021 – 8.4 percent
March 2021 – 8.5 percent
April 2021 – 8 percent
May 2021 – 7.8 percent.

The share of non-performing loans in the credit portfolio of the real estate and construction is 8.8 percent, while the share of non-performing loans in the mortgage loans is 6.6 percent.

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