BAKU, Azerbaijan, Feb. 19
By Tamilla Mammadova – Trend:
According to the National Bank of Georgia, the number of microfinance organizations (MFIs) in Georgia decreased from 67 in 2018 to 53 in 2019, Trend reports citing the Georgian media.
Despite this, lending from MFIs increased from 1.10 billion lari ($384.9 million) in 2018 to 1.12 billion lari ($391.9 million) in 2019.
As for the structure of loans, according to the data for the fourth quarter of 2018, 337 million lari ($117.9 million) accounted for consumer lending in Georgia, 229.8 million lari ($80.4 million) - for pawnshop loans.
Loans in the amount of 187.1 million lari ($65.4 million) were issued to finance trade and services.
In the same period of 2019, 432.1 million lari ($151.2 million) accounted for pawnshop loans, 268.9 million lari ($94 million) - for consumer loans, 110.5 million lari ($38.6 million) - for trade and services.
As of January 1, 2020, 15 banks with 970 branches and service centers are represented in the financial market of Georgia.
According to the National Bank of Georgia, in 2019 the share of the banking sector in the financial market amounted to 93.26 percent, which is 0.78 percent more than in 2018 (92.48 percent).
The share of insurance companies in the financial market amounted to 1.75 percent, which is 0.2 percent higher than in 2018 (1.55 percent).
The share of pawnshops in 2019 did not change compared to 2018 and stood at 1.32 percent.
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