354 thousand pensioners and beneficiaries of social allowance own a pension loan in Georgia, - according to the report submitted by "Liberty Bank" to the National Bank of Georgia.
In 3Q2023, the total portfolio of pension loans decreased by GEL 1 million and reached GEL 401 million. This was 15.5% or GEL 2.6 billion of Liberty Bank's total credit portfolio.
According to the financial report, the average size of one pension loan is GEL 1,132.
In addition, the weighted average nominal interest rate of pension loans issued during the third quarter was 29.4%. It is clear from the statistics that the average effective rate of these credits has 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. In this service, the bank will receive GEL 15 million per year from the state, or a total of GEL 105 million.
The data includes the indicator of both old-age pensioners and beneficiaries of social allowances.
