Consumer claims against commercial banks down 1.9% y/y in 2023

The number of consumer claims against commercial banks operating in Georgia decreased by 1.9 percent year-on-year in 2023, with the figure reduced to 22,794, the National Bank said in its latest update of the figures.

In December, commercial banks were on the receiving end of 2,571 claims - most related to current accounts, consumer loans and credit cards.

The top five claims by product type in December were as follows:

1. Current account/debit cards - 1,255 applications
2. Consumer loans - 571 applications
3. Credit cards - 145 applications
4. Internet banking - 109 applications
5. Mortgage loans - 52 applications

The biggest number - 1,102 claims - were related to transactions, followed by claims related to the terms of the contract (571 claims), and administration or service (461 claims).

The National Bank said 1,068 of the claims submitted in December had been reviewed and considered “unfounded” by commercial banks, with 354 accepted as valid. Considerations were not completed for 946 claims, it added. 

In addition, 14 cases saw claims considered to be well-founded, but the “defects” were not corrected.

The statistics of consumer claims have been recorded by the National Bank since 2011, after the launch of its hotline.