The credit portfolio of Georgian banks was down in January, - the National Bank of Georgia reports. According to the NBG, the volume of loans issued by commercial banks (excluding interbank loans) in January 2021 decreased by 48.22 million GEL or by 0.13% compared to the previous month (exchange rate effect excluded, decreased by 0.24%) and constituted 38.17 billion GEL by February 1, 2021.

“The volume of loans in national currency decreased by 89.51 million GEL (0.53%) and the volume of loans in foreign currency increased by 41.28 million GEL or by 0.19% in the same period (exchange rate effect excluded, decreased by 0.02%).

By the end of January 2021, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 5.33 billion GEL (1.68% less compared to the previous month), and foreign currency denominated loans constituted 13.23 billion GEL (0.25% more; exchange rate effect excluded volume of lending in foreign currency increased by 0.04%).

During January 2021, the volume of lending to resident household sector increased by 0.08% or 14.87 million GEL, and constituted 18.77 billion GEL by February 1, 2021.

Larization ratio for total loans constituted 44.14 percent by February 1, 2021 and decreased by 0.18 percentage point (exchange rate effect excluded, decreased by 0.13 percentage point), compared to January 1, 2021”, the report reads.