The Microfinance organisation’s total assets come to 1,649,011,285 GEL, which compared to the previous year marks an increase by 178.5 million GEL.
The profits of microfinance organizations have dropped. In the third quarter of this year, the net profit of microfinance organisations in Georgia came to 35.7 million GEL, which is 14.8 million GEL less than the same period last year.
Compared to the second quarter, microfinance profits increased by more than 18 million GEL.
As a reference, last year microfinance organisations operating in Georgia received a net profit of 44.5 million GEL, which was the lowest figure of the past six years. For comparison, in 2016, the net profits of the sector reached 151.8 million GEL, in 2015 it was 124.2 million GEL, in 2014 79.8 million GEL, in 2013 61.9 GEL, and in 2012 49.3 million GEL.
Towards the end of the third quarter, the microfinance organisations had given out 975 667 loans. The majority of the recipients were physical persons. The number of loans given to legal entities came to only 805. In total, microfinance organisations have paid out 1,208,695,116 GEL in loans, the large share of which constitutes consumer loans (340,727,068 GEL). Compared to the same period last year, the loans dispersed by the microfinance organisations have decreased (in the third quarter of 2017 1,009,321 loans), however, they have increased in value (in the third quarter of 2017, the loans amounted to 1,071,018,205 GEL).
The Microfinance organisation’s total assets come to 1,649,011,285 GEL, which compared to the previous year marks an increase by 178.5 million GEL.
Currently, 67 microfinance organisations are registered in Georgia.
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