Microfinance organizations published financial report for 1Q 21. According to the new report, 39 microfinance organizations issued loans of 1.25 billion GEL in total. Pawnshop loans are a key segment for the microfinance sector which portfolio amounts to 568 million GEL.
Totally, microfinance organizations issued 681,000 loans, the average volume of the loan amounts to 1,831 GEL. In addition, microfinance organizations received profits of 23 million in 1 Q 21.
Loans by Categories:
•Pawnshop loan - portfolio of 568 million GEL, 485,000 loans; interest income in Q1 was 14.5 million GEL;
•Consumer loans - portfolio of 267 million GEL, 53,700 loans; interest income in Q1 was 32.9 million GEL;
•Loans issued on trade and service sector - portfolio of 203.4 million GEL, 36,500 loans; interest income in Q1 - 11.5 million GEL;
•Loans issued on agricultural sector – portfolio of 106.8 million GEL, 21,400 loans; interest income in Q1 - 5.9 million GEL;
•Installment – portfolio of 49.2 million GEL, 81,900 loans; interest income in Q1 1.5 million GEL;
•Other categories of loans - portfolio of GEL 9.7 million, 833 loans; interest income in Q1 0.9 million GEL;
•Loans issued on legal entities – portfolio of 42.4 million GEL; interest income in Q1 2.1 million GEL.
In total, microfinance organizations received interest income of 75.4 million GEL in the first quarter. The volume of non-interest income was 8.7 million GEL.
Microfinance organizations employ 4,100 persons, the sector has issued salaries of a total of 21.6 million GEL in the first quarter.
