Bank lending grew 12.6%- study says

Bank lending grew 12.6%- study says

access_time2021-08-04 08:30:14


 

The acceleration in the total loans growth continues since March 2021, following a prolonged declining period, when the impact of a pandemic was most strongly felt.

The total loan volume of the banking sector expanded by 12.6% YoY and reached GEL 39.2bn as of June 2021. The increase in bank credit was driven by all segments. In particular, amid recovery in economic activity, corporate loan volume displayed the highest improvement in June 2021 and realized as 8.3% YoY, 1.9pp higher compared to the previous month.

Over the same period, the annual growth rate in MSME segment has reached the highest levels since the beginning of the pandemic and expanded by 18.1% , while retail segment rose by 12.6% YoY.


In June, a volume of the lari-denominated  loans  increased  by 27.6% and reached GEL 18.5bn, while FX loans expanded by 1.3% YoY and stood at GEL 20.7bn. Compared to the previous month, nominal (by 1.6pp) as well as FX-adjusted (by 0.4pp) loan dollarization decreased and amounted 52.8%.


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