Lending Activation, Legalization, and Regulations: Vakhtang Butskhrikidze Emphasizes Key Points from Meeting with Turnava

Natia Turnava, the Acting President of the National Bank, convened with the heads of commercial banks. As reported by NBG, the discussion centered on the prevailing state of the banking sector, financial accessibility, and regulatory considerations.

This marks the second time bankers have met with Natia Turnava in a fortnight. Post-meeting, Vakhtang Butskhrikidze, the General Director of "TBS Bank", commented on their deliberations over enhancing the banking sector's lending capacity for the upcoming year.

"We engaged in a constructive dialogue with the National Bank today, addressing crucial topics set to shape future regulations. Three main areas stood out: the process of 'larization', which holds significance for both the banking sector and the broader economy; the potential regulations that might be introduced for banks in both the short and long run; and perhaps the most crucial aspect – strategies to invigorate credit activity for 2024, encompassing financing for individuals, small to medium enterprises, and larger corporate entities. This proactive approach in 2024 is essential," remarked Vakhtang Butskhrikidze, the General Director of "TBS Bank."

Natia Turnava added, "Our latest collaborative session with Georgia's commercial banks was productive. Our ongoing dialogue revolves around refining and easing various regulations. Our ultimate ambition is to channel more resources into the economy and boost credit activity. Moreover, we want to ensure this activity yields optimal results. Enhancing financial accessibility for our citizens and banking clientele, and subsequently, their employment opportunities, stands as a priority. However, all endeavors must align with ensuring price stability."

Beka Gogichaishvili, the General Director of "Liberty Bank", expressed hope for NBG to maintain an active engagement with bankers through regular meetings in the future.