Society and Banks has reviewed loans tied to the refinancing rate. As of April1, 2022, 191 400 loans are issued, which are tied to the refinancing rate. According to the decision of the Monetary Policy Committee, the NBG decided to keep the refinancing rate unchanged. The monetary policy rate is 11%.
As of today, loans amounting to GEL 8734.6 million tied to the floating interest rate have been issued.
From March 1 to May 1, the volume of loans with floating interest rates decreased by 400 contracts, while the total portfolio increased from GEL 8.554 million to GEL 8734.6 million.
84,300 are consumer loans out of 191,400 contracts, with a volume of GEL 1.229 million. The average weighted interest rate on consumer loans in the national currency amounted to 20.36% as of March 1.
Loans secured with the real-estate rank in second place. As of May 1, 70,100 loans are tied to the refinancing rate, at an average of 12.51%. The total portfolio amounts to GEL 3.022 million.
36,000 contracts have been signed for business loans, which is 200 less compared to April 1. The total portfolio is GEL 4.432 million. Of these, banks issued GEL 1.168 million to finance small and medium-sized businesses, at an average of 15.80%, while large businesses lent GEL 3.264 million, as of May 1, at a weighted average of 14.32%.
The smallest amount is a car loan tied to the refinancing rate. As of May 1, a total of 700 contracts have been signed. Banks lent GEL 18.2 million at an average of 20.89%.
3,000 loans with variable interest rate have been issued, the specific purpose of which is unknown. The total amount of these loans is GEL 30.3 million.
As of May 1, floating rate loans accounted for 40.8% of the total loan portfolio in the national currency. Among them, the highest interest rate on an auto loan is 20.89%, followed by a consumer loan at a rate of 20.36%.
As of May 1, the loan portfolio has increased while the number of contracts has decreased. The interest rate on real estate loans increased from 11.95% to 12.51%.
