Revised loan coefficients shall be specified with the next meeting of National Bank of Georgia on November 21. Under new regulations, borrowers are to have higher salaries when planning on taking loans.
Monthly Net Incomes in GEL |
Loan Service Coefficient ?Maximum Indicator for Nonhedged Borrowers |
Lona Service Coefficient ?Maximum indicator for hedged borrowers |
<=1,000 |
20% |
20% |
1,000-3,000 |
20% |
25% |
3,000-5,000 |
20% |
30% |
5,000-7,000 |
25% |
40% |
7,000-10,000 |
30% |
50% |
If the borrower鈥檚/coborrower鈥檚 net monthly incomes exceed 10 000 GEL, the financing service coefficient may very well be determined due to inhouse policy-procedures of the crediting organizations, but this should not cause excessive indebtedness of any borrower/coborrower. |
Stability coefficient from the Georgian finance sector is high, no deterioration risks are outlined, but coefficients are submitted Eight weeks earlier. Koba Gvenetadze noted.
Maximum indicator for loan guarantee coefficient for currency denominated loans |
70% |
Maximum indicator for loan guarantee coefficient for GEL-denominated loans |
85% |
Maximum indicator for loan guarantee coefficient for loans, when borrowers?insolvency is just not examined. |
50% |
Objective from the new regulations is always to protect borrowers for excessive burden.
Ahead of schedule enforcement of the revolutionary regulations has disoriented even the banking sector.
?/span>Under the new regulations, customers cannot take agro , tourism together with other loans without submission of business purpose? representatives of LOBBY microfinance organization noted.
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