Georgian commercial banks slightly increase credit investments in August

The volume of credit investments made by Georgian commercial banks increased by 1.9 percent or by 176.8 million lari ($1= 1.66 lari) in August 2013 compared to the same period of 2012 and amounted to 9.3 billion lari by September 1st.

The volume of loans in the national currency amounted to 92.7 million lari (an increase of three per cent) in August and to 84 million lari in foreign currency (an increase of 1.4 per cent), Georgian National Bank said on Wednesday.

Loans worth of 856.7 million lari (an increase by 2.5 per cent or by 20.6 million lari compared to July 2013) in the national currency and 3.9 billion lari (an increase by 0.7 per cent or 27.9 million lari) in foreign currency were given to legal resident entities by Georgian commercial banks in August.

Georgian National Bank said that the largest share (46.4 per cent) in the crediting of legal entities in the reporting period fell to trade. The volume of crediting in Georgia's trade sphere decreased by 0.1 per cent or by 1.2 million lari and amounted to 2.2 million lari compared to June.

The share of industry in the crediting of legal entities amounted to 19.3 per cent or 920.3 million lari in August. Around 9.3 per cent or 441.9 million lari of the total volume of crediting fell to construction..

Thus, about 74.9 per cent of the total volume of crediting of legal entities in Georgia fell to three spheres- industry, construction and trade- in August.

The crediting of resident individuals in Georgia increased by 3.4 per cent or by 136 million lari in August 2013 and amounted to 4.2 billion lari by September 1st. (Trend)