Banking
Posted: 3 weeks ago

Commercial Banks Take over Properties of 182 million GEL from Borrowers

The property of borrowers has increased at the banking sector (the exchange rate effect). Commercial banks have taken over properties of 182 million GEL in exchange for bad loans (11m/ 2018 -165 2, (2017 – 209.2 mln ).

Banks

2019 (million GEL)

2018 /17 (million GEL)

Bank of Georgia

76

56.9/94.9

TBC Bank

55

46.7/58.5

Cartu Bank

25

25.4/31.9

 

Before appropriation of the secured property, it is enlisted in the portfolio of bad loans and the supervisor obliges  commercial banks to reserve 100%. The bank is authorized to write off the bad loan, but this does not signify the borrowers are not to cover the obligations.