The FINANCIAL — Bank of Georgia, one of the leading banks in Georgia has declared an increase in its consumer loans portfolio by 30%.
“Monthly consumer loan distribution is 26-28 million, practically the same figure as before the war period, when we credited 30 million per month. And now there is not such a big difference in figures,” said Irakli Gilauri, CEO of Bank of Georgia.
“The credit portfolio already reached 1,700 million, while the total volume of deposits is 2,000 million at Bank of Georgia,” Gilauri added.
Bank of Georgia recently opened its representative office in London. As Gilauri declares within 6-9 months the Bank expects cash flow of 50 million USD.
Due to high demand on consumer loans the Bank recently announced the innovative service – SMS loan implementation. By SMS loan clients will have the opportunity to receive consumer loans within several minutes directly from ATMs without even visiting the Bank.
The SMS loan is beforehand approved by the Bank and is directed specially for clients who are switched to the bank salary service scheme. To use the SMS loan, the client should receive a message from the Bank including a special code. If using the loan, at any Bank of Georgia ATM, the client can charge the amount of the loan on their plastic cards by filling in the code received in the SMS.
Activating the SMS loan is easy. After receiving the message from Bank of Georgia – the number 4444, indicating the approval of the loan, within a 30 day period the client can address any ATM of Bank of Georgia, insert their plastic card and in the ATM menu chose “Receive Loan”. There will appear the terms of the loan usage, including the time period and interest rate. The client will also have the opportunity to choose the payment date and loan amount, within the approved limit.
To activate the loan, the client will fill in a six number code received by SMS. After finalizing the operations in the ATM, the customer is sent a message activating the loan, monthly payment day and amount of pay.
Eligible clients of the SMS loan are those who have their salary charged in Bank of Georgia; if they have current liability, if the salary covers current and new liability service, and if the monthly salary satisfies the terms of using the consumer loan. Moreover, the client’s active mobile number should be registered at the Bank, so as to receive the consequent SMS.
Discussion about this post