The number of adjustable rate loans in Georgia is growing

https://sputnik-georgia.ru/20220204/chislo-kreditov-s-plavayuschey-protsentnoy-stavkoy-v-gruzii-rastet-264135395.html

The number of adjustable rate loans in Georgia is growing

The number of adjustable rate loans in Georgia is growing

On February 2nd, the National Bank of Georgia decided to keep the refinancing rate at 10.5%. February 4, 2022, Sputnik Georgia

2022-02-04T07:01+0400

2022-02-04T07:01+0400

2022-02-04T07:01+0400

Georgia

Messages

business

credit

refinancing rate

/html/head/meta[@name=”og:title”]/@Contents

/html/head/meta[@name=”og:description”]/@Contents

https://cdnn1.img.sputnik-georgia.com/img/23406/66/234066642_1:0:1500:843_1920x0_80_0_0_6be5cf891f3de09508c21d269a3dd06f.jpg

Tbilisi, February 4 – Sputnik. In Georgia, 183.5 thousand variable-rate loans depend on the refinancing rate, the non-governmental organization Society and Banks said in a statement. From December 1 to January 1, 2021, the number of variable rate loans increased by 8.2 thousand. Loans totaling 8.7 billion lari are interest rate dependent, according to NGOs. As of January 1, variable rate loans accounted for 41.1% of the total loan portfolio in Lari. On February 2, the National Bank of Georgia’s Monetary Policy Committee decided to keep the refinancing rate at 10.5%. “The Monetary Policy Committee’s decision is the continuation of tightened policy in relation to current inflationary processes in the economy caused by the combined impact of internal and external factors on the economy. Annual inflation in December was 13.9%, which could be a big blow to the economy if it affects inflation expectations over the longer term. ‘ the NGO said in a statement. The exchange rate of the lari against the US dollar on February 3 is GEL 3.0179/$1. Subscribe to video news from Georgia on our YouTube channel

2022

Messages

de_GE

https://cdnn1.img.sputnik-georgia.com/img/23406/66/234066642_188:0:1312:843_1920x0_80_0_0_e285027f4624c1690e56c54e17ff86d2.jpg

georgia news economy credit refinance rate

subscribe to something

On February 2nd, the National Bank of Georgia decided to keep the refinancing rate at 10.5%.

Tbilisi, February 4 – Sputnik. In Georgia, 183,500 variable-rate loans are dependent on the refinancing rate, the NGO Society and Banks said in a statement.

From December 1 to January 1, 2021, the number of variable rate loans increased by 8.2 thousand. Loans totaling 8.7 billion lari are interest rate dependent, according to NGOs. As of January 1, variable rate loans accounted for 41.1% of the total loan portfolio in Lari.

On February 2, the National Bank of Georgia’s Monetary Policy Committee decided to keep the refinancing rate at 10.5%.

The refinancing rate is the amount of interest, on an annualized basis, that the credit institutions pay to the National Bank for the loans granted to them. The interest rate is the main instrument of the National Bank’s monetary policy and is considered a benchmark for market interest rates in the financial sector.

“The decision of the Monetary Policy Committee is a continuation of the tightened policy in relation to the current inflationary processes in the economy caused by the combined action of internal and external factors affecting the economy. Annual inflation in December was 13.9%, which could be a major blow to the economy if it affects long-term inflation expectations,” the NGO said in a statement.

Which loans depend on the refinancing rate

type of loan

amount of loans

Volume, million lari

consumer

79 700

1,153.7

mortgage

66 500

2929.2

business loan

35 300

4,496.5

car loan

600

16.2

indefinite goal

3000

91.4

The exchange rate of the lari against the US dollar on February 3 is GEL 3.0179/$1.

Subscribe to video news from Georgia on our YouTube channel

source

Disclaimer: If you need to update/edit/remove this message or article, please contact our support team. Learn more

Comments are closed.