BAKU, Azerbaijan, Nov. 25
By Tamilla Mammadova – Trend:
The volume of loans issued by commercial banks (excluding interbank loans) in October 2020 decreased by 31.86 million lari ($9.6 million) or by 0.09 percent compared to the previous month and constituted 36.35 billion lari ($11.02 million) by November 1, 2020, Trend reports via the National Bank of Georgia.
The volume of loans in national currency increased by 468.32 million lari ($142.03 million) and the volume of loans in foreign currency decreased by 500.18 million lari ($151.6 million) or by 2.39 percent in the same period (exchange rate effect excluded, decreased by 0.68 percent).
By the end of October 2020, the total volume of national currency-denominated loans to resident legal entities issued by commercial banks amounted to 4.90 billion lari ($1.4 billion), and foreign currency-denominated loans constituted 12.54 billion lari ($3.8 billion).
During October 2020, the volume of lending to the resident household sector increased by 0.16 percent or 29.13 million lari, and constituted 18.08 billion lari ($5.4 billion) by November 1, 2020.
Larization ratio for total loans constituted 43.87 percent by November 1, 2020, and increased by 1.33 percentage point (exchange rate effect excluded, increased by 0.90 percentage point), compared to October 1, 2020.
As of November 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks. In October 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 427.12 million lari ($129.5 million) and constituted 53.92 billion lari ($16.3 billion).
The banking sector's equity capital equals 5.63 billion lari ($1.7 billion), which makes up 10.44 percent of the commercial banks total assets.
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