A slight increase in mortgage loans in August was due to seasonal factors

A slight increase in mortgage loans in August was due to seasonal factors

access_time2019-09-18 14:43:46

The regulations adopted  within the responsible lending will not be catastrophic for the banking sector until the end of this year, President  of the Association of Banks of Georgia Alexander Dzneladze, says.

In Dzneladze’s words, banks had to change the calculations and focus on certain results due to new regulations.

As for the reports on the growth of mortgage lending, it can be caused by  the softening of mortgage regulations.


“In July a very good indicator was observed  but in August the growth in mortgage lending was slight  due to seasonal factors as in August apartment sales fall. Regulation for consumer lending most likely will not change, banks and trade sector will have to carry out  structural changes and  offer new loan products, ” he notes.



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