Access to credit for businesses is not critical in our country, - claimed Davit Tsaava, Director General of BasisBank in an interview to BM.ge. This was his comment to statement of the Minister of Finance of Georgia on high interest rates for business loans in Georgia. “When we talk about interest rates, it would be appropriate to compare to the trend we’ve been observing in the country for the last three or four years. We will clearly see the reduction in both retail and business directions, while accessibility has been increasing.
Reduction of interest rates depends upon the country’s general ratings and the cost of the sources, attracted by banks and by means of which we credit our clients. I’m sure that with the background of the growth we have there will be opportunity to retain this trend and reduce interest rates and increase accessibility. However, I still believe that access to loans for businesses is not critical for our country,” – states the banker.
