Banking Sector Sees Decline in Customer Base

The Georgian banking sector witnessed a reduction in its customer base, with the number of bank customers dropping to 1.578 million, down from 1.622 million active users at the end of February last year, according to the latest report from Creditinfo.

As of February 1, the banks' active loan agreements amounted to 39.8 billion GEL, while the leasing companies' portfolio stood at around 0.5 billion GEL. It's important to note that Creditinfo's database only records loans up to 10 million GEL, a threshold that was raised at the end of 2022 from the previous limit of 3 million GEL.

The report also highlighted the current state of overdue loans: 840 million GEL worth of bank-issued loans are overdue by one year, with a 555 million GEL portfolio being 2 to 3 years overdue.

Despite a reduction in the volume of problem loans, the pace of lending has decelerated, showing an annual growth rate of about 16% as of February. Additionally, Creditinfo's database now includes loans issued based on income from remittances.

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Banking Sector Sees Decline in Customer Base

The Georgian banking sector witnessed a reduction in its customer base, with the number of bank customers dropping to 1.578 million, down from 1.622 million active users at the end of February last year, according to the latest report from Creditinfo.

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Banking Sector Sees Decline in Customer Base

The Georgian banking sector witnessed a reduction in its customer base, with the number of bank customers dropping to 1.578 million, down from 1.622 million active users at the end of February last year, according to the latest report from Creditinfo.

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine 01

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul 02

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 03

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 04

Georgia Sees Surge in Electric Vehicle Registrations 05

Levan Lepsveridze Joins Jury at Cannes International Festival 06

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
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Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
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With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
03

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