to Director General of Bank of Georgia Archil Gachechiladze, the new lending regulations, which have complicated obtaining
loans by individuals, have already exhausted their short-term impact.
“The National Bank introduced the regulations to reduce the risks of the financial system and change the attitude of the socially vulnerable people to borrow large sums. Any side effects were short-term and now they have already exhausted their effects. Now the economy will be less risky and in case of a crisis, the stability of both the country and individual citizens will be much higher. This is very positive "- CEO of Bank of Georgia says .
“The National Bank says it is studying the impact of regulations on the economy, and after the final picture is clear, the question will arise whether to revise the regulations or not. Moreover, I can say that the loan portfolio of banks is growing - for example, consumer lending is declining, but the mortgage is growing, ” Gachechiladze adds.