Auto loans issued by Georgian commercial banks, in national and foreign currencies amounted to GEL 1, 453, 721, 000 during Jan-Nov 2020. The loan portfolio of commercial banks made up at GEL 1, 071, 294, 000 during the same period of the prior year. The y-o-y comparison shows 36% growth.
Commercial banks loans (excluding interbank loans) to households in national and foreign currencies amounted to GEL 193, 878, 379, 000 during Jan-Nov 2020, up from GEL 168, 153, 414, 000 during Jan-Nov 2019.
According to the National Bank of Georgia (NBG) annual weighted average interest rates on auto loans in national currency, totaled 24.36% as of Nov 2020, up from 19.40% from Nov 2019. As for the annual weighted average interest rates on auto loans in foreign currencies, the rate was 6.26% as of Nov 2020, down from 8.91% of Nov 2019.
Out of total auto loans portfolio, issued during 2020, GEL 901, 804, 000 has been issued in national currency and GEL 551, 917, 000 in foreign currency. The volume was GEL 693, 549, 000 and GEL 377, 745, 000 respectively, during the report period of the previous year.
Loan portfolio growth has been observed in relation to legal entities as well. Auto loan credit portfolio of commercial banks in foreign currencies amounted to GEL 187, 824, 000 during Jan-Nov 2020, up from GEL 151, 068, 000 during the same period of the prior year.
