“By implementation of responsible crediting system expectations of decreasing of the interest rates are justified”, – says the President of the Banking Association Alexander Dzneladze with a correspondent of bm.ge.
According to him, interest rates are insignificantly decreased, but it is affected by several factors, thus Alexander Dzneladze doesn’t make clear assessments.
A representative of the banks say that after implementation of responsible crediting number of borrowers was decreased, only low-risk borrowers are available and high-risk products will not physically exist on the market.
“Generally, due to the responsible crediting implementation number of borrowers will be decreased, those who will have access to credits. Thus, competition will rise and this will have an impact on the interest rate but clear assessment is difficult as other factors have an impact on the stated issue such as, for example, Dedolarization process, which has an influence on the hypothec portfolio, in upgrading direction, as the currency resource is cheaper that the lari resource.
Proceeding from this, a clear prognosis can’t be made but, generally, it, in fact, will have an effect. It will have an effect in direction of definite products proceeding from impossibility of crediting by the high risk borrowers, there will be only access for low risk borrowers and high risk products will not physically exist”, – says Alexander Dzneladze.