Giorgi Kepuladze, founder of “Banks and Society", deeply believes that the National Bank of Georgia’s decision to simplify mortgage lending has largely eased regulations for immigrants.
As he noted with TV-program “Analytics,” this decision by the NBG will contribute to the growth of the mortgage portfolio.
"Banks are given the opportunity by the NBG to issue mortgage loans more easily and in large volumes. Due to the fact that the portfolio could not grow, sales were decreasing, including in the case of old apartments, NBG decided to ease the regulations, especially for immigrants.
As for Georgian citizens employed in Georgia, expectations are uncertain, as it is very difficult to take out a 10-year mortgage loan. For immigrants, things are more or less certain. Simplifying the conditions for them is, of course, not bad, on the contrary, it will contribute to the growth of the mortgage portfolio," noted Giorgi Kepuladze, adding that relaxing lending regulations alone will not be enough to accelerate the growth rate of the mortgage portfolio, since there is no appropriate political and economic situation in the country.
