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Dollarization of Loans Issued by Commercial Banks Fall to 54.7%

Over the past year GEL-denominated loans rose by 2.4 billion GEL, while foreign currency denominated loans declined by 499 million USD.

As of July 1, 2018, commercial banks have issued loans of 23.3 billion GEL in both currencies. The ratio of foreign currency denominated loans in total loans portfolio is 54.7%, down from 57.9% year on year.

In June 2018, compared to May 2018, GEL-denominated loans portfolio rose by 236 million GEL, and foreign currency denominated loans portfolio increased by 60 million USD.

In June consumer loans issued by commercial banks rose by 27 million GEL, long-term consumer loans increased by 38 million GEL, while short-term loans declined by 11 million GEL.

In June total amount of overdue loans declined by 26 million GEL to 384 million GEL. The ratio of overdue loans in credit portfolio is 1.6%, while the figure was 2.3% as of July 1, 2017.

In June 2018, compared to May 2018, averaged weighed interest rate on GEL-denominated loans did not change and was maintained at 16%, while the rate declined by 2% on foreign currency denominated loans and constituted 8.1%.