NBG offers loan repayment respite to Tbilisi flood victims

Tbilisi flood victims who have liabilities with the National Bank of Georgia (NBG) are being offered some respite and leeway on loan repayment obligations.

NBG president Giorgi Kadagidze confirmed the bank will work with the victims of Tbilisi flood to settle their bank liabilities as comfortably as possible.

"We know that the damaged families have different types of liabilities towards the banks, such as credits. Bank employees will visit each family to define the process. We will help them to pay their credits,” said Kadagdize.

"This is not urgent now but after their primary needs are met it would be very helpful for them to have simplified liabilities towards the banks. I am sure commercial banks would agree with us to offer maximum support to these families,” he added.

Additionally, Kadagidze will ask commercial banks to be more lenient on their clients who were victims of the flood. He said NBG will allow flood-affected families to postpone their loan repayment obligations without suffering any consequences (such as late repayment fines) and encouraged other commercial banks to follow suit.