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Loan Interest Rates Declined by about 6% over Past 5 Years

Loan interest rates have declined by about 5% over the past 5 years, TBC Bank director general Vakhtang Butskhrikidze said.

Interest rates have declined on each type of loans. I am sure this dynamics will be continued”, Vakhtang Butskhrikidze said.

He also commented on the last statement by Finance Minister Mamuka Bakhtadze that commercial banks should not frustrate economic development. Two meetings were held between commercial banks and the Finance Ministry over the past period and both parties expressed positive contribution that commercial banks make to economic development.

“Over the past one week, commercial banks had 2 very positive meetings with the Finance Minister. I would like to note ghat commercial banks are one of the most important fields for economic development. As to the government initiative for financing startups, we agreed that commercial banks will take part in this process”, Butskhrikidze noted.