The National Bank of Georgia published its February lending report, according to which the total credit portfolio of banks operating in Georgia decreased by GEL 108 million and amounted to GEL 62.57 billion.
The reduction was mainly related to the decrease in the balance of foreign currency loans, as in January the volume of the said portfolio amounted to GEL 27.37 billion, and by the end of February it decreased to GEL 26.99 billion, which made up a decrease of GEL 383 million. This was most likely due to the exchange rate effect, as the GEL strengthened against the USD during the period.
In terms of GEL lending, the portfolio increased by GEL 276 million and reached GEL 35.58 billion. As a result, the larization of loans increased by 0.54 percentage points and reached 56.86%.
