Georgia’s banks issuing more monthly loans, says NBG

The volume of money distributed to clients from banks throughout Georgia has increased in local and foreign currency, says the National Bank of Georgia (NBG).

Latest monthly figures released by the Bank showed the sum of loans (including to non-residents) provided in Georgia’s national currency in March 2015 reached 1.5 billion GEL – an increase of 67.6 million GEL – on February lending.

Furthermore, the sum of loans offered in foreign currency reached 5.7 billion GEL last month, which was an increase of 300.3 million GEL on February, said NBG.

In the total sum of lending to legal entities, the biggest share falls on trade - 31.2 percent. Compared to the previous month, in March 2015 the sum of loans provided for trade increased by 128.6 million GEL, reaching a total of 2.3 billion GEL.

NBG noted 60 percent of the total sum of lending to legal entities was distributed between three sectors - industry, construction and trade.

Last month the industrial sector earned 22.9 percent of all loans (1.7 billion GEL), while the construction sector earned 465.3 million GEL.

Meanwhile the sum of lending to resident individuals exceeded 6.7 billion GEL in March, noted NBG. This was an increase of 152.6 million GEL month-on-month.

Last month about 35 percent of all loans were issued in the Lari. Furthermore, the bank said about 54 percent of all loans for households was offered in the local Georgian currency.