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Commercial Banks Issue 1.161 billion GEL Loans in Ajara Region

In 2015 commercial banks issued 1.161 billion GEL loans in the Ajara Region, including 71% long-term loans, the Ajara Finance and Economy Ministry says.

According to the statistics, the 2015 crediting volume in the Ajara Region has increased year on year.

A bulk of the issued loans is denominated in foreign currencies, the report of the Finance and Economy Ministry of Ajara, reads.

As of December 31, 2015 commercial banks have drawn 779.719 million GEL deposits with 63% of foreign currency denominated deposits in total portfolio. Money transfers from abroad marked 163.079 million GEL, while money transfers from Georgia constituted 73.399 million GEL.

It is also worth noting fifteen commercial banks operated in the Ajara Region as of December 31, 2015 (13 branches/73 service centers).