Georgia's microfinance organizations boost issuing of loans

Georgia Materials 8 November 2021 12:46 (UTC +04:00)

BAKU, Azerbaijan, Nov. 8

By Maryana Akhmedova – Trend:

The number of loans issued by microfinance organizations in Georgia as of the third quarter of 2021 amounted to 648,183, which is an increase of 72,024 loans, compared to the same period of 2020, Trend reports via Georgian media.

According to the statistics, the number of loans as over the reporting period of 2021 totaled 1.1 billion Georgian lari ($344.8 million), while 720,207 loans totaled 1.3 billion Georgian lari ($407.5 million) in the same period of 2020.

Of the amount lent in the reporting period of 2020, 1.2 billion Georgian lari ($376.1 million) was received from individuals, and 36.5 million Georgian lari ($11.5 million) – from legal entities.

Economic sectors with the largest volume of issued loans as of the third quarter of 2021:

Pawnshops – 512, 925 loans ($201.3 million);

Installment – 85,569 loans ($16.4 million);

Consumer loans – 57,063 loans ($88.1 million);

Trade and services – 38,712 loans ($65.7 million);

Agriculture – 23,662 loans – ($34.6 million).

According to the statistics of the National Bank of Georgia, The net profit of microfinance organizations in Georgia during the reporting period of 2021 exceeded 78.7 million Georgian lari ($24.9 million), which is an increase of almost 20 million Georgian lari ($6.3 million), compared to the previous quarter, and 66 million Georgian lari ($20.8 million) more than in the same period of 2020.


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