As per the data for the second quarter of the current year, pensioners and recipients of social allowance in Georgia have taken a pension loan of 424,501,742 GEL against 398,628,974 GEL in the same period of last year (almost 27 million less).
The weighted average effective interest rate of pension loans issued in the second quarter was 27.1%, the nominal interest rate was 25.1%. The expected credit loss amounts to 20,491,775 GEL.
In May 2022, "Liberty Bank" once again won the tender announced by the state and obtained the right to issue pensions for the next 7 years. In this service, the bank will receive 15 million GEL per year from the state.
