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Number of Microfinance Organizations Decline by 15.2%

Number of microfinance organizations that are registered at National Bank of Georgia (NBG) decreased by 3 ones, while the number of currency exchange booths declined by 21 ones. Moreover, one service centre of a commercial bank was also closed.

According to the NBG statistics, in late October 2018, a total of 67 microfinance organizations operated in Georgia and their number has decreased by 15.2% year on year.

At the end of 2008, a total of 1030 currency exchange booths operated in Georgia. Their number has decreased by 83 ones year on year.
As to commercial banks, at the end of October there were 15 private commercial banks, down 1 commercial bank year on year. Fourteen banks operate with foreign capital. They own 134 branches and 799 service centres.

Total stock capital as of November 1 made up 4.861 billion GEL. Commercial banks’ stock capital rose by 599 million GEL year on year.