Business Political Insights BPI.GE
TBILISI(BPI)- In the third quarter of 2020, the amount of “toxic” loans of the top 5 commercial banks has increased almost 4 -fold. According to the data for the first 9 months of the current year, the banks’ losses caused by possible unpaid loans stood at GEL 1,009,367,311, against GEL 256,530,591 in the corresponding period of 2019.
TBC Bank
In 9 months of 2020, the loss of TBC Bank caused by unpaid loans has increased almost 4-fold compared to the same period of the previous year. It’s worth mentioning that in the third quarter of the current year, this figure was GEL 493,370,208 against GEL 122,111,162 in the corresponding period of 2019.
Bank of Georgia
In the third quarter of 2020, the loss of the Bank of Georgia caused by unpaid loans increased 4-fold compared to the same period of the previous year. It’s worth mentioning that in the first 9 months of this year, a volume of such loans reached GEL 409,292,612 against GEL 96,265,175 in the corresponding period of 2019.
In the third quarter of 2020, the loss of VTB Bank Georgia caused by toxic loans increased almost 5-fold compared to the same period of the previous year. It should be noted that in the first 9 months of this year, the amount of such loans made GEL 41,577,385 while in the corresponding period of 2019 – GEL 8,478,274.
Liberty Bank
In the third quarter of 2020, the loss of “Liberty Bank” caused by toxic loans has almost doubled compared to the same period of the previous year. It’s worth mentioning that in the first 9 months of this year a volume of such loans reached GEL 39,707,202 against GEL 23,007,832 in the corresponding period of 2019.
Basisbank
In the third quarter of 2020, the loss of JSC Basisbank caused by toxic loans increased almost 4 times compared to the same period in 2019. It should be noted that in the first 9 months of this year the amount of such loans reached GEL 25,419,904 while in the corresponding period of 2019 – GEL 6,668,148.
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