Volume of real estate owned by banks in Georgia increases
"The volume of real estates acquired by commercial banks in October 2019 amounted to GEL 210.6 million," - the Financial Sector Review prepared by the National Bank of Georgia (NBG) reads.
It notes that in 2019 the value of the property owned by the banks increased to GEL 48.2 million. For comparison: in October 2018 this figure was GEL 162.4 million.
Furthermore, according to the NBG, as of October this year, the amount of written off loans amounted to GEL 14.9 million, while the loans amounting to GEL 29 million were written off during the same period last year.
In addition, according to the Financial Sector Review, written off loans of GEL 8.2 million were withdrawn, while this figure totaled GEL 7.1 million during the same period of 2018.
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