BAKU, Azerbaijan, Nov. 29
By Maryana Akhmedova – Trend:
The volume of consumer loans issued in Georgia as of November 1, 2021, amounted to 5.8 million Georgian lari ($1.87 million), while the interest rate increased to 17 percent, Trend reports via statistical data of National Bank of Georgia (NBG).
The amount of consumer loans in Georgia in the reporting period of 2021 increased by 3.5 percent, compared to 5.6 million Georgian lari ($1.81 million) worth of consumer loans issued as of October 1,2021.
The same figure also increased by 28.8 percent, compared to 4.5 million Georgian lari ($1.4 million) of consumer loans as of November 1, 2020, the report said.
However, the interest rate as of November 1, 2021, decreased by 0.1 percentage points, compared to 17.1 percent interest rate in the previous month, the NBG said.
According to the report, the interest rate on long-term consumer loans as of November 1, 2021 stood at 17 percent, which remained unchanged, compared to the same period of 2020.
The interest rate on short-term loans in the reporting period of 2021 decreased by 5.7 percentage points – from 23 percent in the same period of 2020 to 17.3 percent, the NBG said.
Meanwhile, the interest rate on long-term consumer loans in national currency as of November 1, 2021, was at 18.3 percent, which is an increase of 0.1 percentage points, compared to 18.2 percent in the same period of 2020.
The interest rate on long-term consumer loans in foreign currency as of November 1, 2021, decreased by 1.1 percentage points, compared to 8 percent over the same period of 2020, to 6.9 percent, the report said.
The interest rate on short-term consumer loans in national currency in the reporting period of 2021 decreased significantly by 6.3 percentage points year-on-year – from 26.2 percent to 20.5 percent.
Meanwhile, the interest rate on short-term consumer loans in foreign currency as of November 1, 2021, was 5.7 percent – a decrease of 1.5 percentage points, compared to 7.2 percent over the same period of 2020, the NBG said.
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