"It is possible that the banks will end the year with a loss of 2020," Koba Gvenetadze, President of the National Bank of Georgia, told at the press-conference today. According to him, the crisis of COVID-19 was met by the Georgian banking system with a high rate of profitability and adequate level of capital, but despite a good starting position, it is possible that the total loss in the sector will be much higher than profit.
"Given the stable operating income, it is expected that after the pandemic, banks and financial institutions will soon regain profitability," - said Koba Gvenetadze.
According to Koba Gvenetadze, the growth of the share of inactive loans in the Georgian banking system in 2020 is forecasted. At the same time, the annual growth rate of loans is projected from 0 to 5%.
In the first four months of 2020, 15 commercial banks operating in Georgia lost a total of GEL 667 million.
See all the news
Financial Services in CAREC
#TheCheckpoints: TIWB & Georgia - Interview with Rusudan Kemularia, Head of TIWB Secretariat
Stoli® Group to Release Limited-Edition Bottle in Support of the Ukrainian People
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Aliyev replaces long-serving central bank head with loyalist
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
Business Leaders Council by USAID and Georgian Business
ვინ არის მსოფლიოში #1 სნაიპერი “Wali”?
ბინების ქირის ფასი 50%-მდე გაიზარდა
"Today we are all Ukrainians"- Zurab Pololikashvili
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI
FAQ’s and Analysis on Lari & FDI - Interview with Fady Asly
მინერალური და მტკნარი წყლის ფასები ქართულ ბაზარზე
China continues to push competitors out of the global walnut market
Moscow to Host First Meeting of Turkish & Armenian Special Envoys on Jan 14
Scientists Discover New Part of the Human Body
Turkey's Exports Soar by 33.7% to $21.5B in November