Georgian banks have issued loans of GEL 3,750,000,000 to real estate development companies, which is more than credits given to economic sectors. For comparison, the amount of credits given to development companies is GEL 290 million higher than the volume of credits issued to the agricultural sector, which is in second place.
According to financial statements published by commercial banks, 91% of loans to real estate developers are denominated in foreign currency, making this sector the most dollarized.
According to the financial reports for 3Q24 submitted to the NBG, "TBC Bank" has issued the largest volume of loans to the real estate sector - 1.65 billion GEL, it occupies the second position with a credit portfolio of 1.38 billion GEL, and "Terabank" is in third place with 146 million GEL of loans issued to developers.
Commerical Banks' Rating By Residential Property Development Finance As Of 3Q2024:
1 . TBC Bank - GEL 1,658,595,088
2. Bank of Georgia - GEL 1,380,208,981
3. Terabank - GEL 146,234,295
4. Cartu Bank - GEL 105,427,013
5. Liberty bank - GEL 95,764,293
6. Halyk Ban- GEL 37,549,834
7. ProCredit Bank - GEL 31,730,870
8. Pasha Bank - GEL 22,787,960
9. Credo Bank - GEL 19,522,274
10. Isbank - GEL 17,807,868
11. Silk Ban- GEL 9,569,017
12. Ziraat Bank - GEL 7,719,584
13. Basis Bank - GEL 6,481,302
14. VTB - GEL 6,066,256
