2020 data: 193 pawn shops issued loans worth 322.8 million GEL in Georgia
The volume of cash assets in pawnshops at the end of 2020 equalled 14.3 million GEL, of which 83.6% was in national currency and 16.4% in foreign currency. Photo: Nino Alavidze/Agenda.ge.
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There were 193 pawn shops (without branches) operating last year in Georgia of which 46.1% were located in the capital city of Tbilisi, says the National Statistics Office of Georgia (Geostat).
The volume of cash assets in pawnshops at the end of 2020 equalled 14.3 million GEL, of which 83.6% was in national currency and 16.4% in foreign currency.
The volume of pawn shops’ monetary assets amounted to 14.5 million GEL, of which 50.7% was in national currency and 49.3% in foreign currency.
The volume of extended loans during the 2020 year equaled 322.8 million GEL, of which 87.1% was issued in national currency and 12.9% - in foreign currency).
About 307,000 individuals borrowed from the pawnshops in 2020, of which 99,9% were physical entities.
The annual weighted average interest rate on loans equalled 27.8% (in the national currency – 27.9%, in the foreign currency - 24.3%).
In terms of the volume of extended loans, the regional distribution was as follows:
- Tbilisi - 66.3%
- Adjara - 22.6%
- Imereti - 4.6%
- Samegrelo-Zemo Svaneti - 4.2%
- Kvemo Kartli - 1.1%
The value of the annual profit of the pawnshops stood at 18.4 million GEL, of which 57% falls on pawnshops, operating in Tbilisi while the rest are distributed to various regions.
Commercial banks in Georgia lent 38.43 billion GEL and received deposits of 36.02 billion GEL in February 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 3.28% month-on-month, while loans also increased by 0.68%.
Commercial banks in Georgia lent 38.2 billion GEL and received deposits of 34.6 billion GEL in January 2021, show the latest data by the National Bank of Georgia (NBG).
The net profit of Georgian commercial banks amounted to 99.26 mln GEL in 2020 which is 89.6 per cent decrease compared to last year when net profit amounted to 953.63 million GEL, show data from the National Bank of Georgia.
About 26.47 billion GEL ($9.47 bln/€8.74 bln) was deposited in Georgian banks in January 2020, making for a 0.83 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
The latest ‘Europe and Central Asia Economic Update’ published by the World Bank reads that the Georgian economy is unlikely to recover to pre-Covid levels until late 2022. The World Bank says that the Georgian economy is projected to expand to 4% in 2021 and then to firm to 5% in 2022.
Commercial banks in Georgia lent 37.94 billion GEL and received deposits of 36.03 billion GEL in March 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 0.03% month-on-month, while loans decreased by 1.27%.
Commercial banks in Georgia lent 39.53 billion GEL and received deposits of 35.41 billion GEL in May 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits decreased by 0.59% month-on-month, while loans decreased by 1.54%.
Commercial banks in Georgia lent 39.60 billion GEL and received deposits of 35.12 billion GEL in July 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 1.72%% month-on-month, while loans also increased by 0.98%. There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
Commercial banks in Georgia lent 40.07 billion GEL and received deposits of 35.41 billion GEL in August 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 0.82% month-on-month, while loans also increased by 1.21%. The sum of term deposits increased by 0.36%, while demand deposits, which allow for flexible withdrawal, increased by 1.19%.