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