The volume of loans issued by commercial banks (excluding interbank loans) in December 2023 increased by 1.46 billion GEL (2.86%) compared to the previous month (exchange rate effect excluded, increased by 3.12%) and constituted 52.65 billion GEL by the end of December 2023,” according to the National Bank of Georgia (NBG).

The volume of loans in national currency increased by 933.50 million GEL (3.35%) and in foreign currency – by 528.77 million GEL (2.27%) in the same period (exchange rate effect excluded, increased by 2.85%).

“By the end of December 2023, the total volume of national currency-denominated loans to resident legal entities issued by commercial banks amounted to 8.79 billion GEL (6.03% more compared to the previous month), and foreign currency-denominated loans constituted 14.87 billion GEL (2.48% more; exchange rate effect excluded volume of lending in foreign currency increased by 3.06%).

During December 2023, the volume of lending to resident household sector increased by 2.22% or 590.97 million GEL, and constituted 27.19 billion GEL by the end of December 2023.

Larization ratio for total loans constituted 54.76% by the end of December 2023 and increased by 0.26 percentage point (exchange rate effect excluded, increased by 0.12 percentage point), compared to the end of November 2023,” says the NBG.