TBC: Consumer lending continues to decline

TBILISI(BPI)- Vakhtang Butskhrikidze, TBC Bank General Director, due to credit regulations introduced by the central bank, since the beginning of the year a volume of consumer loans has been decreasing as well as  the growth rate of mortgage lending.

As for the impact of regulations on the county’s economy, in Butskhrikidze’s words,  conclusions should be made  based on actual data.

“As expected, consumer lending is declining while  the mortgage lending is growing, but not at such a pace as in 2018. It is very difficult to speak about  the impact of regulations on the economic growth. Last year, when the possible consequences of introducing tight credit regulations were analyzed, some predictions and assumptions were made. But now it’s too late to talk about it. The regulations have been launched  5 months ago, some information about their effect has been accumulated and we can draw  the first conclusions, ”the banker says.

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