Home / Banking / Volume of Consumer Loans Issued by Banks Decreased GEL 43 Mln in January

Volume of Consumer Loans Issued by Banks Decreased GEL 43 Mln in January

A  volume of consumer loans issued by banks by February 1, 2015  amounted to GEL  2.192 billion, which is GEL 43 million less than the figure of January 1, 2015.

According to the  National Bank’s data, a volume of consumer loans increased GEL 369 million in a year (by February 1, 2014 –  GEL 1.823 billion).

As per statistical data, by February 1 short-term loans worth GEL 501 million were issued , of which  GEL 431.6 million were  in the national currency, 69.7 million – in foreign currency.

A volume of long-term loans amounts to GEL 1.7 billion, of which 1.37 billion were  issued in the national currency, 321 million – in foreign currency.

During the reporting period the average interest rate on short-term consumer loans reduced from  28.4% to  23.2%  in a year, in particular, by  24.8% on the loans issued in the national currency (30.6% for February 1, 2014), in foreign currency –  by 13.5% (16.1% for February 1, 2014). The average interest rate on long-term consumer loans reduced from  18.1% to 16.1%,  in the national currency – by  17% (February 1, 2014 – 18.6%), in foreign currency – by  13.7% (February 1, 2014 – 16%).