“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...
The President of the Banking Association assumes decreasing of portfolio of consumable loans and increasing of interest rate after enacting of the new regulation. According to him, since the 1st of November, within one year, the loans may become more expensive. “I can’t exclude, that on the first stage, for a relevant period the credits will rise. On the top of the regulation, it is remarkable that taking of a credit up to 200 000 GEL will be possible only in the national currency. Attraction of the resource in lari, in comparison with other currencies, will be double-expensive for the banks. If this provision will enter into force with this wording, the portfolio of consumable credits will be decreased by 30%, and hypothec loans – by 3-4%”, – stated the President of the Banking Association. According to Dzneladze, consultations are held with the National Bank, but, as he is aware, the possible changes will be “cosmetic”. “In connection...