360 thousand pensioners and beneficiaries of receiving social allowance have a pension loan, - according to the report submitted by "Liberty Bank" to the National Bank of Georgia. This is more than ⅓ of the population, who receive various social benefits.
In 2Q, the total portfolio of pension loans increased by GEL 18 million amounting to GEL 402 million. This is 15.5% of Liberty Bank's credit portfolio, which totals to GEL 2.6 billion.
As of the financial report, the average size of one pension loan is GEL 1,118.
In addition, the weighted average nominal interest rate of pension loans issued during the second quarter was 29.7%, which average effective rate decreased by 5.5 percentage points compared to the previous year.
In May 2022 "Liberty Bank" once again won the tender announced by the state and obtained the right to issue pensions for the next 7 years. The bank will receive GEL 15 million per year from the state, or a total of GEL 105 million.
The indicator includes the data of both old-age pensioners and beneficiaries of receiving social allowance.
