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Tag Archives: Loans

TBC Bank is Ready to Join the Initiative to Abolish Problem Loans

TBC Bank, as the largest financial institution in the Georgian market, is responsible for the sustainability and stability of the Georgian financial sector and the general economy of the country. TBC Bank is ready to join the initiative to eliminate troublesome loans in favor of low-income citizens and persons with …

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Overdue Loans Amount Shrank by 9.6 million GEL in July

Amount of overdue loans shrank by 9.6mln GEL in July and the amount totaled 430.4mln GEL. The ratio of overdue loans in crediting portfolio of commercial banks made up 2.2%. Ratio of GEL-denominated loans in overdue loans made up 39.6%. According to National Bank of Georgia (NBG), in the reporting period, …

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GEL-Denominated Loans Grow in Value

Lari loans

Ratio of consumer loans in retail loans portfolio (9.363 billion GEL) does not exceed 20%. The dollarization coefficient is 20%. Only 25% of long-term loans (2.3 billion GEL) has been issued in foreign currency. The figure makes up 6.4% in short-term loans (469 million GEL). Interest rates have increased on …

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Basisbank Profits Grew in February

Basisbank Profits Grew in February

Basisbank profits constituted 4.212 million GEL as of March 1. The figure put the bank on the sixth position with a 3% ratio among 12 profitable banks (3.429 million GEL as of March 1, 2016; 8%). The Bank finished the January to February period with a high index of profitability. …

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TBC Bank Converted 40 Million USD Loan into GEL

According to deputy of TBC general minister, 40 million loans have been converted to national currency in both TBC and Bank Republic, which amounts to 53% of loans on the market. In the frame of dedollarization program, 3073 customers dedollarized their loans.  Customers who weren’t enrolled in the state subsidized …

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1130 out of 27 000 Credits are Converted in GEL

1130 out of 27 000 Credits are Converted in GEL

According to the President of National Bank of Georgia, 4.2% of loans are converted into GEL by this time. 1 130 (up to $40 000) out of 27 000 credits, with a volume of 14 million USD are converted into GEL. Koba Gvenetadze has declared on the advantage of larization …

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Merely 3% of Beneficiaries have Converted loans into GEL

Merely 3% of Beneficiaries have Converted loans into GEL

Less than 2 months are remained before the end of larization campaign and merely 3% of beneficiaries have converted loans into GEL. The volume of loans converted into GEL is tripled through 25/01-9/02 and the rate is increased from 220 to 863. The activeness is grown after the meeting held …

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Finance Minister: Our Decision is to Protect Citizens from Business Model with Thousands % of Interest Rate

Kumsishvili: We are Meeting Investors on Restoration of Regional Airdromes

In his interview with the Kviris Palitra, Dimitri Kumsishvili, Minster of Finance and First Vice Prime Minster, has submitted arguments for restricting annual interest rates on loans. “Similar business companies appear in less-developed countries. They permanently expand range of activities before their operation is restricted. Online loan companies knew very …

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Bank of Georgia to Buy ProCredit Bank Portfolio

Bank of Georgia to Buy ProCredit Bank Portfolio

Bank of Georgia plans to buy ProCredit Bank’s portfolio of micro and small business loans. The parties have already reached agreement and payment will be fulfilled in cash. Through this deal Bank of Georgia plans to strengthen positions in segment of small and micro business. As a result of this …

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