Tbilisi (GBC) – The seized property by MFOs amounts to 4.675 million GEL, which is 0.24% of the loan portfolio (H1/2024 - 4.638 million; 0.2%).
Over the past 2 years, the assets of borrowers remaining in the sector have halved. As of 01.01.2022, they exceeded 8 million GEL, and the loan portfolio (38 MFOs) amounts to GEL 1.3 billion.
According to the 9-month report of microfinance organizations (33 MFOs), as of Q3/2024, up to 4.8 million GEL of borrowers' assets remain in the sector in exchange for outstanding liabilities. The total credit investment of MFOs is 1.963 billion GEL.
The loan, before the property pledged as collateral is repossessed, is included in the bad debt portfolio, for which up to 100% is reserved according to the supervisory norm.
Credit rating with repossessed property (GEL):
Q3/2024 |
H1/2024 |
2022 |
|
Crystal |
1,122,826 |
999,024 |
480,279 |
Rico |
- |
35 350 |
- |
MBC |
316,416 |
312,317 |
257,116 |
Lazika Capital |
120'473 |
118'956 |
169,741 |
CreditService + |
- |
- |
- |
Leader Credit |
387.000 |
- |
143,809 |
Swiss Capital |
194.645 |
124 341 |
125,950 |
Source: MFOs &BRG