Microfinance organizations received profits of 23 million in Q1 2021, - show data published by the National Bank of Georgia (NBG).
As of today, 39 microfinance organizations operate in the country, and the total volume of their assets amounts to 1.54 billion GEL.
According to the statistics, microfinance organizations issued loans of 1.25 billion GEL on the Georgian economy. The volume of total loans is 681,000, correspondingly the average loan totals to 1,831 GEL.
Loans by Categories:
•Pawnshop loan - a portfolio of 568 million GEL, 485,000 loans; interest income in Q1 was 14.5 million GEL;
•Consumer loans - a portfolio of 267 million GEL, 53,700 loans; interest income in Q1 was 32.9 million GEL;
•Loans issued on trade and service sector - a portfolio of 203.4 million GEL, 36,500 loans; interest income in Q1 - 11.5 million GEL;
•Loans issued on agricultural sector – a portfolio of 106.8 million GEL, 21,400 loans; interest income in Q1 - 5.9 million GEL;
•Installment – a portfolio of 49.2 million GEL, 81,900 loans; interest income in Q1 1.5 million GEL;
•Other categories of loans - a portfolio of GEL 9.7 million, 833 loans; interest income in Q1 0.9 million GEL;
•Loans issued on legal entities – a portfolio of 42.4 million GEL; interest income in Q1 2.1 million GEL.
In total, microfinance organizations received an interest income of 75.4 million GEL in the first quarter. The volume of non-interest income was 8.7 million GEL.
Microfinance organizations employ 4,100 persons, the sector has issued salaries of a total of 21.6 million GEL in Q1.
