Banking
Posted:
5 years 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.