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Georgia's TBC Bank sees increase in mortgage loans issuance

Georgia Materials 11 December 2021 09:42 (UTC +04:00)
Georgia's TBC Bank sees increase in mortgage loans issuance

BAKU, Azerbaijan, Dec. 11

By Maryana Akhmedova – Trend:

The volume of newly issued mortgage loans in Georgia from December 1 through December 5 increased significantly by 20 percent, compared to 2019 level, Trend reports via statistical data of TBC Capital

Meanwhile, the number of residential real estate transactions in Georgia's capital, Tbilisi, increased by 39 percent from November 1 through November 25, the reports said.

The non-cash spending of the residents of the TBC Bank on grocery and pharmacy over the reporting period of 2021 increased by 100 percent, compared to the 2019 level, and by 27 percent year-on-year.

The non-cash spending on categories excluding grocery and pharmacy increased by 56 percent, compared to the 2019 level, while increasing by 120 percent year on year.

The growth of non-cash spending by non-residents through the TBC Bank’s channels in November 2021 increased from 12 percent in October 2021 to 19 percent, compared to the 2019 level.

The non-cash spending by non-residents in December 2021 stood at 18 percent, compared to 2019, the report said.

The growth of non-cash spending by the type of economic sector in November 2021, compared to 2019 level:

Construction – 94-percent increase;

Electronics – 78-percent increase;

Restaurants – 59-percent increase;

Fuel and transport – 46-percent decrease;

Hotels – 21-percent increase.

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