Bank lending grew 0.67% in July, down from 1.75% in June, and the composition is the more informative part. The lari loan book rose to 45223.2 million GEL from 44551.2 million, while the foreign-currency book fell to 31232.1 million from 31397.9 million.
Excluding the exchange-rate effect, growth was 0.96%, faster than the nominal figure. That adjustment is an estimate that revalues the foreign-currency book at the USD/GEL rate alone — a proxy rather than a full currency-weighted calculation, since no breakdown of the book by individual currency is available.
Households account for the entire increase: lari lending to households rose to 32991.3 million GEL from 32400.3 million, while lending to legal entities fell in both currencies. New lari issuance was 5841.0 million GEL, below June's 6238.6 million but above 5145.7 million in May.
The policy rate was 8.00% at end-2025, unchanged from end-2024 and below 9.50% at end-2023.
Figures in this post
Every number below was checked against the source before publication.
BANK_LOANS_GROWTH_FX_ADJUSTED_MOM_MBank loan growth, excluding exchange-rate effect, month over month Computed from other indicators’ stored observationsBANK_LOANS_GROWTH_MOM_MBank loan growth, nominal, month over month Computed from other indicators’ stored observationsBANK_LOANS_HOUSEHOLD_NC_MBank loans to households, national currency National Bank of Georgia — downloaded filesBANK_LOANS_STOCK_FC_MBank loans outstanding, foreign currency National Bank of Georgia — downloaded filesBANK_LOANS_STOCK_NC_MBank loans outstanding, national currency National Bank of Georgia — downloaded filesLOANS_ISSUED_VOLUME_MLoans issued, national currency National Bank of Georgia — downloaded filesPOLICY_RATE_AMonetary policy rate, year-end National Bank of Georgia — downloaded files