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Merely 3% of Beneficiaries have Converted loans into GEL

Merely 3% of Beneficiaries have Converted loans into GEL

Less than 2 months are remained before the end of larization campaign and merely 3% of beneficiaries have converted loans into GEL.

The volume of loans converted into GEL is tripled through 25/01-9/02 and the rate is increased from 220 to 863. The activeness is grown after the meeting held in NBG on February 3. As a result of additional instruction from the regulatory, all banks have grown communication with the customers. Managers of the bank explain insufficient activeness by Georgian character and they are expecting the activity by the end of the program.

Portfolio of $10.6 million is converted into GEL and the volume amounts to 26.3 million GEL. As known, loans are converted in -20% preferential rate and banks also take the resource with -20% preferential rates from NBG. If we envisage the growing trend of foreign exchange reserves in January, USD collateral is more profitable for banks.