Bank Loans, Deposits Soar

Bank loans, as of May 2007, rose by 57.5% over the previous twelve month period to GEL 3.4 billion (over USD 2 billion), the National Bank of Georgia (NBG) said on June 21.

46.5% of loans went to financing the trade sector. Industry got 19.8% and construction 11.4%.

?The increase in bank loans is symtomatic of an improved investment climate,? NBG said.

Bank deposits also rose ?significantly.? There was a 48% increase on the previous year, bringing the figure to GEL 2.1 billion (about USD 1.25 billion), according to NBG.

Lari deposits increased by 62.8%, reaching GEL 717.1 million, whilst foreign currency deposits increased by 51.8%.

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