How Many Persons Do Have Pension Loans?

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30.Mar .2023 15:00

How Many Persons Do Have Pension Loans?

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Author:Natia Taktakishvili

"Liberty Bank" submitted the financial statements to the National Bank of Georgia. As of 4Q2022, 358,000 clients have loans secured by pensions at this stage.

According to the financial documentation, the sum of these credits amounts to GEL 345 million. Accordingly, the average size of one pension loan is GEL 967. In total, pension loans account for 14% of the bank's credit portfolio.

In addition, the weighted average nominal interest rate of pension loans issued during the fourth quarter was 35%.

In May 2022 "Liberty Bank" once again won the tender announced by the state and obtained the right to issue pensions for the next 7 years. In this service, the bank will receive GEL 15 million per year from the state, or a total of GEL 105 million.

The data includes the indicator of both old-age pensioners and recipients of social assistances.

Liberty Bank Pension Loans