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Georgian Money

Annual Averaged Yield on GEL-denominated Loans Rise to 24.1%

In February 2016, as compared to January 2016, the volume of GEL-denominated loans issued by commercial banks shrank to 39 million GEL, while foreign currency denominated loans increased by 23 million USD.

At the same time, the GEL denominated loans increased by 361 million GEL year on year, while foreign currency denominated loans increased by 144 million USD year on year. The ratio of foreign currency denominated loans accounts for 66%, up from 63.7% ratio year on year.

As of March 1, 2016 the volume of overdue loans rose by 17 million GEL to 347 million GEL and its ratio in total credit portfolio marked 2.1%, the same indicator of March 1, 2015.

In February 2016 the averaged annual interest rate on GEL-denominated loans strengthened by 1.7% to 24.1%, while the indicator dipped by 0.5% to 10.1%.