Commercial banks have raised interest rates on individual loans. Namely, in February the annual interest rate on a long-term (+10 years) GEL denominated mortgage loan made up 15.71% on average, up 204 base points compared to the previous month (13.67% as of 01.01.2016).
The auto loan (up to 10 years) has seen an averaged 50 base point growth from 16.5% to 17%. Pawn loan interest rates have increased to 18.75% from 18.53%; The interest rate on a consumer loan with about 1-year maturity period has increased to 17.37% from 17.29%, while the consumer loan with about 10-year maturity period has decreased to 15% from 17.78%.
The retail loans portfolio accounts for 807 billion GEL, including 4.4 billion GEL mortgage loans.