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Tag Archives: Credit

Credit Growth Stood at 19.1% YOY in August

The total bank loan portfolio increased by 19.1% YoY in August 2018, excluding FX effect. From the segments perspective, retail, SME and corporate loans increased by 19.1%, 20.8% and 18.1% YoY, respectively. Growth of retail loans was mostly driven by mortgages, which went up by 34.7% YoY, while non-mortgage loan …

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EU4Business-EBRD Credit Line to Support free trade with the EU in Georgia

The EU4Business-EBRD credit line has provided several workshops for Georgian entrepreneurs, including nut farmers, wine exporters and meat processors, to explain how to use financing from the EBRD and EU for purchasing relevant equipment, modernising production and improving their services. “The grant component provided by the EU under the credit …

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ADB Allocated Credit Line to Basis Bank

ADB Allocated Credit Line to Basis Bank

Asian Development Bank has allocated credit line to Basis Bank in order to support trade development. The volume of allocated sum amounts to 3 million USD within the frame of TFP. The mentioned program significantly expends operation in the Central Asia and Caucus region. It has been noted, that geographical …

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EBRD Affirmed Credit Line of 100 Million for Bank of Georgia

EBRD Affirmed Credit Line of 100 Million for Bank of Georgia

A credit line of 100 million has been approved to Bank of Georgia. To note, 50 million USD of the sum is envisaged for enterprise development support, 40 million USD to fund this segment separately and 10 million USD to fund women entrepreneurs operating in this segment. The funds will …

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VTB Bank’s Fast Loan for 260% Interest Rate

VTB Bank’s Fast Loan for 260% Interest Rate

VTB Bank’s Online Credit Offers One of the Most Expensive Credit Products on the Market. High interest rates on online credit products have shadowed expensive loan products of commercial banks. However, commercial banks have not cheapened their credit products anyway. It should be noted commercial banks also issue the so-called …

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Credit Interest Rates Exceed Deposit Yields By 300%

Commercial banks may further increase loan interest rates because of GEL exchange rate depreciation and high risk factors. The National Bank of Georgia (NBG) has already increased the refinancing policy rate. As a result, refinancing loan interest rates have also surged. Despite this tendency, deposit interest rates have not changed. …

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