Banking

Consumer Loans Rates Grow

Consumer Loans Rates Grow April 1, 2018Leave a comment
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Consumer loans rates have risen.

According to National Bank of Georgia (NBG), averaged apr on short-term bank credits made-up 19.4% (17.6% from Q1/2-16). A person\’s eye rate marked 8.1% on currency exchange denominated short-term bank credits (7.4% in Q1/2-16).

As of April 1 (Q1/2017), annual home interest rates on long-term loans constructed 16.1% (15.8% in Q1/2016). Annual interest rates on USD-denominated loans declined to 11.6% (12.6% in Q1/2016).

Consumer loans portfolio is 2.8 billion GEL and ratio of long-term loans is 82% (2.3 billion GEL),including 1.8 billion GEL (78%) are foreign exchange denominated loans.

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