The volume of lending by commercial banks (including loans to non-residents) increased by 652.1 million GEL (13.0 percent) compared to April 1, 2008 and reached 5.7 billion GEL by April 1, 2009. The growth of overall volume of loans is a result of the growth of the foreign currency denominated loans. More specifically, the volume of loans provided in the national currency decreased by 18.2 percent and constituted 1.4 billion GEL, while the volume of loans in foreign currency grew by 29.2 percent and reached 4.3 billion GEL.

By the end of March 2009 commercial banks issued to resident legal entities 560.0 million GEL worth of national currency-denominated loans (39.4 percent less than a year ago) and 2.5 billion GEL worth of loans in foreign currency (20.4 percent more than a year ago).

In the mentioned period the volume of lending has increased 1.4 times in the sphere of Hotels and Restaurants and constituted 73.0 million GEL. The volume of lending increased 1.3 times in the sphere of Real Estate, Researches and Commercial Activity to equal 131.9 million GEL. The volume of lending increased 1.3 times also in the sphere of Health Care and Social Services to equal 37.1 million GEL. This rapid growth notwithstanding, the share of these sectors in the total amount of lending is still insignificant.

Out of the total volume of lending to legal entities, the biggest share falls on trade – 46.7 percent. During the past 12 months the volume of loans provided for trade grew by 0.6 percent and exceeded 1.4 billion GEL.

Share of loans provided to the industrial sector constituted 20.5 percent of all loans to legal entities and amounted to 636.5 million GEL by April 1, 2009 (13.8 percent higher than in the same period of 2008). 12.5 percent fall on construction, amounting to 388.6 million GEL (7.4 percent decrease compared to the same period of the past year). Thus, 79.6 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, by 36.5 percent, during the past 12 months, and reached 2.3 billion GEL by April 1, 2009.

 

Current statistical information is published on the statistics page of the NBG’s website.