Georgian Commercial Banks Boost Business loan portfolio for large enterprises

17:25 Fri, 03 February

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11.Aug .2022 16:00

Georgian Commercial Banks Boost Business loan portfolio for large enterprises

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Author:BMG Staff

Business loans issued by commercial banks of Georgia for large enterprises, both legal entities and household in national and foreign currencies in June 2022 have amounted to 16,931,893,000 GEL up from GEL 16, 591, 524, 000 of May 2022, statistics data of the National Bank of Georgia shows.

Out of total 15,214,527,000 lari issued for legal entities as of July 1, GEL 10,779,707,000 was issued in foreign currency and the remaining GEL 4,710,067,000 in national currency.

Pursuant to NBG, annual market interest rate for legal entities borrowing in national currency reached 13.8% in June down from 13.9% in May and 18.8% up from prior 18.4% for individuals.

Interest rates went up for foreign currency borrowers. The rate was 7.1% from previous 7% for legal entities and 6.4% from 6.3% for individuals.

According to the financial reports for the first half of 2022 submitted by commercial banks of Georgia to the regulator, credit portfolio of banks during the first six months of the current year amounted to GEL 43.6 bln. The figure is 12% more in comparison with H1 2021.