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MFI Profits Rise Sharply

Consolidated profit of microfinance institutions amounted to GEL 18 million in the first quarter of this year, that is 30.2%  highercompared to the same period in 2013. As per March 31, 2013, a total of 80 microfinance institutions were registered in Georgia, by the end oflast year their number was 67. 13 of them do not have any employees or offices and branches. As of March 31, the total assets of MFIs totaled GEL853.1 million, which means a 17% growth. Liabilities reach GEL 635.2 million (a 18.2% growth). As for MFOs capital, it reaches GEL 217.8 million, …

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MFOs Reduced Financing of Trade

Microfinance organizations of Georgia issued loans amounting to GEL 661 million in 6 months of  2014, which is 18.2% more than in the same period of 2013. In the same period, commercial banks issued loans in the national currency in the amount of GEL 341.2 million, which is 2 times higher than in the same period of 2013, in foreign currency –  GEL 336 million, which is 39% less than in same period of 2013. Thus, the amount of loans …

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Value of Real Estate Put up for Sale by MFOs Doubled

MFOs share in the mortgaged property  put up for sale amounted to  4.5% as of the first half of last year. Chairman of the Association of Microfinance Organizations Archil Bakuradze told commersant.ge. He says  the number of borrowers increases,however, the amount of loans issued by MFOs is small. “Increased volume of repossessed property by  MFOs can have two reasons: a decline in purchasing power and a reduction in MFOs standards. However, we are working on an increase in the standards and in general, quality has not  deteriorated, “- says Bakuradze. …

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EBRD: GEORGIAN BANKS EMERGE AS REGIONAL LEADERS IN TRADE SECTOR CREDITING

TBC Bank has hosted a one-day conference as part of the trade support program of the European Bank for Reconstruction and Development (EBRD). The conference made focus on trade sector crediting on international and regional markets. The meeting also discussed the bank sector challenges with leading specialists, regulators and lawyers. …

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