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Financing of Economic and Business Sectors by the Banks

Published: August 19, 2013 | 8:10 am
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What are the figures for the financing of the economic and business sectors by the banks? It has transpired that the main benefactor of the financing by the banks is the trading sector, which holds a 24.3% share of the credits issued by the Bank of Georgia from January onwards, followed by the industrial sector with 19% and the energy sector with 10.5%. According to a spokesman at the BOG, loans totalling 1 668 000 000 GEL were issued to corporate clients in the first half of the financial year. Furthermore, the number of corporate loans increased by 4.8% during the second financial quarter in 2013, compared to the first.
A spokesman at the KSB Bank has stated that business loans have increased by 7% since the beginning of the year, with the most significant increase registered in the trade and service sector at 44%. TV3 will aim to bring you every major bank’s position on this issue.

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