“FITCH RATINGS CIS” SENIOR DIRECTOR: THERE IS ALREADY MORE MODERATE GROWTH IN GEORGIA’S RETAIL BANKING SECTOR, BUT IT DOES NOT WORRY US

Olga Ignatieva, senior director of Fitch Ratings CIS, comments recent trends in Georgian banking sector for Sarke.

Sarke: In September, new crediting regulations entered in force in Georgia (in particular, upper limit for effective interest rate on credits is halved, limit is set for sanctions on overdue credits, restrictions are introduced on retail mortgage loans).