Real Estate Worth 15 Bln Pledged in Banks as Collateral

access_time2018-02-13 12:11:42

Last year the real estate worth GEL 14,993,901,606 was pledged in commercial banks as collateral – as per  the National Bank of Georgia (NBG).

In particular, in the fourth quarter TBC Bank  appropriated  the real estate  worth GEL 6,080,480,275 million  and  Bank of Georgia  has taken the real estate  worth GEL 5,689,112,324 million. The third in volumes of appropriated immovable  property is VTB Bank with  GEL 875,781,710.

As for  2016 the residential space  worth GEL  1,126,082,580 was appropriated  in favor of banks. However, it is noteworthy that 5 banks – Terra Bank, TBC Bank, ProCredit Bank, Credo and Bank of Georgia do not specify  the value of the real estate passed into their   favor in the 4th quarter of 2016.

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