The average interest rate on business loans issued in national currency insignificantly increased in 4Q21, - according to the NBG statistics.
According to the report, the rate hike was mainly driven by a 0.5 percentage point increase in the monetary policy rate by the National Bank, to 10.5%.
"In December, compared to September, the interest rate on large business loans issued in national currency within the month increased slightly and amounted to 13.9%. For small and medium-sized business loans, the interest rate for loans denominated in national currencies increased slightly to 13.9%. Interest rates did not change significantly in EUR and USD, respectively reaching 5.2% and 6.5%. According to the Credit Conditions Survey, the margin on GEL loans with fixed-rate increased slightly. As of the respondents, a significant change in the interest rates is not expected in the next quarter”, the National Bank said in a report.
