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ProCredit Bank's Portfolio Dollarization Declines to 80%

ProCredit Bank’s Portfolio Dollarization Declines to 80%

ProCredit Bank’s portfolio dollarization has declined to 80% (L/Y – 85%).

Annual growth in GEL-denominated loans made up 52% (197 million in 2017 and 131 million GEL in 2016). Currency portfolio has declined by 7% (809 million in 2017 and 872 million in 2016).
Revenues from loans have also declined.

The commercial bank earned 57.7 million GEL from business loans in 2017, 67.5 million GEL in 2016. Revenues from retail loans made up 12.2 million GEL in 2017 and 18.5 million GEL in 2016.

The bank’s performance in retail sector weakens more and more and is represented mainly by mortgage currency loans.

ProCredit Bank is able to compete with TBC Bank and Bank of Georgia only in medium and major business segments.

As reported, Bank of Georgia has purchased a package of small business loans from ProCredit Bank and net value of Bank of Georgia portfolio increased by 120 million GEL. The number of clients also increased by 2 400 persons.