| NBG: Volume of lending by commercial banks reached 5.9 billion Lari |
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03/03/2009 15:55 (374 Day 02:09 minutes ago) | |||||
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The FINANCIAL -- The volume of lending by commercial banks (including loans to non-residents) increased by 1189.3 million GEL (25.5 percent) compared to February 1, 2008 and reached 5.9 billion GEL by February 1, 2009.
More specifically, the volume of loans provided in the national currency grew by 2.6 percent and constituted 1.6 billion GEL, while the volume of loans in foreign currency grew by 36.4 percent and exceeded 4.3 billion GEL. 96.8 percent of the growth of overall volume of loans represent the growth of loans in foreign currency.
By the end of January 2009 commercial banks issued to resident legal entities 649.2 million GEL worth of national currency-denominated loans (18.2 percent less than a year ago) and 2.6 billion GEL worth of loans in foreign currency (24.7 percent more than a year ago).
In the mentioned period the volume of lending has increased significantly in the sphere of Real Estate, Researches and Commercial Activity, where this indicator has increased almost 1.7 times and constituted 137.8 million GEL. The volume of lending increased 1.5 times in the sphere of Health Care and Social Services to equal 35.7 million GEL and in the sector of Hotels and Restaurants to equal 73.3 million GEL. This rapid growth notwithstanding, the share of these sectors in the total amount of lending is insignificant and remains at the level of 4.2, 1.1 and 2.3 percent respectively.
Out of the total volume of lending to legal entities, the biggest share falls on trade – 47.4 percent. During the past 12 months the volume of loans provided for trade grew by 11.4 percent and exceeded 1.5 billion GEL.
Share of loans provided to the industrial sector constituted 20.4 percent of all loans to legal entities and amounted to 662.8 million GEL by February 1, 2009 (27.9 percent higher than in the same period of 2008). 11.9 percent fall on construction, amounting to 388.1 million GEL (6.1 percent growth). Thus, 79.7 percent of the total volume of lending to legal entities falls only on three sectors – industry, construction and trade.
The volume of lending to individuals has grown significantly during the reporting period, by 47.4 percent and reached 2.4 billion GEL by February 1, 2009.
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