26.Apr .2019 20:04

Issuance of Loans under 5000 GEL Falls by 154,965,000 GEL (27.5%)

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The responsible crediting system has already made a significant influence on Georgian bank system. According to the recently published data of the National Bank of Georgia (NBG), the issuance of micro loans has fallen drastically in March 2019.

The micro loans (under 5000 GEL) worth 408,517,000 GEL were issued in March 2019, which is less by 154,962,772 GEL compared to 563,479,772 GEL that was issued in March 2018. This means that the indicator has fallen by 27.5% compared to the same period of previous year.

There were 1,115,513 individual loans issued in this category, which is less by 2% compared to March 2018.

The micro loans worth 406,782,207 overall were issued in the first quarter of 2019, which gives us 25.7% decrease compared to the same period of previous year.

At the hearing of the Budget and Finance Committee of the Parliament of Georgia the Finance Minister, Ivane Matchavariani stated that there is no need to review banking regulations at the moment.