The FINANCIAL — TBC Bank, one of the leading banks in Georgia, has credited 500 million GEL to physical individuals in the year 2010.
“The credit portfolio has increased slightly in 2010. It has grown by 15% exceeding the expectations we had at the beginning of the year,” said Nino Masurashvili, Deputy General Director at TBC Bank.
“TBC Bank has a 23% share of the total banks credit portfolio in Georgia,” declared Maia Dzirkvelishvili, Head of the PR Department at TBC Bank.
Moreover, the deposits of physical individuals have reached 800 million GEL at TBC Bank.
“The most demanded product is consumer loans. These types of loans are for different purposes such as education, house repairs, purchase of technology, wedding and other purposes,” declared Masurashvili.
According to Masurashvili the average borrowing amount for such a type of loan is 4,000 USD.
“Consumer as well as auto loans are quite demanded at TBC Bank. We are actively presented in the auto loan market and have pretty good terms with almost all dealer companies, on top of which auto loans can be approved in 10 minutes needing only a client’s ID card,” declared Dzirkvelishvili.
“Moreover, instalments are quite popular at TBC Bank. We were the first bank to restore the quick instalment service after the financial crisis, consequently we have the highest distribution in this field. In general crediting is our priority by loan improving and making it easy,” added Dzirkvelishvili.
TBC Bank recently introduced 5 star loans for its clients. With this term an individual can omit one month’s payment per year for the entire period of the loan. This activity covers consumer, mortgage and auto loans. Each star indicates a special term for the borrower.
The first star is a 1 month privileged period. The borrowers will have the opportunity once a year to postpone their monthly payment. Generally speaking the lender can omit as many months as the years they have taken out the loan for.
To use this privilege, the borrower should beforehand inform the credit expert. The borrower can use this privilege from 6 months after the loan taking.
The second star indicates a shorter loan approval period. Borrowers can take out consumer and auto loans within a 1 day period.
The third star indicates the additional 500 points on one’s Smart Card, which will be added to the total accumulated points.
The fourth star indicates the superior service. “At this stage the superior service is expressed by the highest qualifications of our experts who will be serving the needs of our clients,” said Masurashvili.
The fifth star indicates the easier procedures and better interest rates. For mortgage loans interest is from 14.5%, for consumer loans from 18% and for auto loans from 0%.
“This is the first time such privileged terms have been brought to the Georgian market. Previously banks set standard monthly payments. In this case we would like to make our clients feel more comfortable. Taking out a loan is a great responsibility and in this case they have the chance to postpone payment for a month and to not worry,” added Masurashvili.
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