TBC Bank, Bank of Georgia, Liberty Bank to postpone payment on loans for three months due to coronavirus

Georgian commercial banks, particularly TBC Bank, Bank of Georgia and Liberty Bank will accept postponed payment on loans for three months.

The banks say the decision has been made to prevent people gathering in bank branches and thus to prevent the spread of the new coronavirus. 

TBC Bank offers consumers to postpone paying not only interest rate on loans, but also the loan principal. The decision is made for all physical individuals, micro, small and medium size business and also for large business which are involved in tourism, the food industry or in an industry which is related to the gathering of many people.

Bank of Georgia and Liberty Bank say the decision is only for loans of physical individuals.

The interest rate on loans allocated for three months will be distributed in the following months, says the Bank of Georgia.