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Commercial Banks’ Credit Portfolio Shrinks by 241.4 million GEL

Commercial Banks’ Credit Portfolio Shrinks by 241.4 million GEL

In March, as compared to February, commercial banks have cut credit injections in the economy by 241.4 million GEL and the crediting volume fell to 15.62 billion GEL.

The credit portfolio shrank after the GEL ratio in foreign currency denominated loans narrowed. The annual growth rate in loans portfolio at commercial banks made up 9.6%.

Without the exchange rate effect, the annual growth rate was 6.2%. At the end of March, 79.3% of the credit portfolio was registered for long-term loans, with 70.3% foreign currency denominated component.

The ratio of foreign currency denominated loans in short-term loans makes up 46%.

According to the National Bank indicators, in the reporting period, GEL-denominated loans rose by 61.1 million GEL (1.2%) to 5.43 billion GEL, while foreign currency denominated loans rose by 66 million USD to 4.42 billion USD (up 1.5%).

60.9% of these credits have been issued to corporate bodies and long-term credits account for 83.2%.