Banking
Posted: 3 weeks ago

GEL-denominated Loans in August Rose by 323 million GEL

In August 2019, as compared to July 2019, GEL-denominated loans issued by Georgia-based commercial banks (excluding interbank loans) rose by 323 million GEL, whilst foreign currency denominated loans rose by 13 million GEL.

As of September 1, loans in both currencies amounted to 29.8 billion GEL, including the ratio of foreign currency denominated loans rose to 55.7%, up from 55.5% year on year.

Consumer loans in August rose by 9 million GEL. Growth is mainly recorded for long-term loans. This category increased by 37 million GEL, whilst short-term loans rose by 5 million GEL.

Over the past year, GEL-denominated loans rose by 2.3 billion GEL, whilst foreign currency denominated loans increased by 383 million USD.

In August 2019, as compared to July 2019, annual market interest rate on GEL-denominated loans grew by 0.1% and totaled 14.3%, whilst the interest rate has not changed on foreign currency denominated loans and the figure accounts for 7.1%.