Nominal bank loan growth slowed to 0.20% in August, a third consecutive monthly deceleration after 1.75% in June and 0.67% in July. New lending in national currency followed the same path: 5120.3 million GEL issued in August, 720.7 million below July.
The composition matters more than the headline. The national-currency loan stock fell by 113.6 million GEL in August to 45109.6 million, while the foreign-currency stock rose by 270.0 million to 31502.1 million. What growth there was came from the foreign-currency book, and part of that is revaluation rather than new credit. For July, growth excluding the exchange-rate effect was 0.96% against 0.67% nominal; that figure is an estimate revalued at the USD/GEL rate alone, not a full currency-weighted adjustment of a loan book that is not exclusively dollar-denominated.
The monetary policy rate stood at 8.00% at end-2025, unchanged from end-2024 and below the 9.50% recorded 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_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