A total of GEL 47, 972,943, 000 consumer loans has been issued by Georgian commercial banks, both in national and foreign currencies during Jan-Nov 2020. The sum is 12% higher than of Jan-Nov 2019.
Consumer loans issued in national currency totaled GEL 41, 873, 641, 000 during January-November 2020, up from GEL 36, 865, 260, 000 from of the same period of the prior-year. As for the credit portfolio of consumer loans issued in foreign currencies, this year, it amounted to GEL 6, 099, 302, 000 up from GEL 5, 941, 909,000 as of the report period of the previous year.
According to the recent data of the National Bank of Georgia on commercial banks loans (excluding interbank loans) to households by loan purpose, the total loan portfolio issued in national currency during Jan-Nov 2020 amounted to GEL 112, 361, 551, 000 and GEL 81, 516, 828, 000 in foreign currencies, totaling GEL 193, 878, 379, 000. The figure was GEL 94, 984, 905, 000 in national currency and GEL 73, 168, 509, 000 in foreign currencies, totaling GEL 168, 153, 414, 000 as of Jan-Nov 2019. The y-o-y comparison shows 15% growth this year.
Annual weighted average interest rates on consumer loans in national currency, as of Nov 2020, totaled 20.51. The rate was 20.13 as of November 2019.
As for the annual weighted average interest rates on consumer loans in foreign currency, it totaled 7.21 as of November 2020, up from 6.32 as of November 2019.
