Bank of Georgia Financial Snapshot and Loan Portfolio Quality
Debt-to-GDP ratios flattened after significant decreases in
previous years
Banking sector loans to households
and legal entities as % of GDP
Household loans to GDP ■Legal entity loans to GDP
Public debt as % of GDP
■Domestic public debt to GDP External public debt to GDP
64.8%
59.6%
52.8% 54.7%
47.2%
40.8%
35.8%
27.9%
29.5%
31.2%
Source: NBG, GeoStat, BOG
2015
2016
2017
2018
2019
Private sector debt to GDP flattened at around pre-pandemic levels as
credit growth started to align with nominal economic growth
77.6%
71.8%
62.4%60.7% 62.4%
2020
2021
2022
1Q23
2Q23E
The previous decreases in debt-to-GDP ratio have created room for healthy
credit growth
60.2%
49.7%
40.3%39.4% 38.9% 40.4%
39.8%
36.7%
31.9%
28.3% 28.8% 29.5% 31.0%
Source: MOF, GeoStat, BOG
2020
2021
2022
1Q23
2Q23E
Public sector debt to GDP also flattened as nominal economic growth
started to sync with the growth rate of public borrowings
Given the reduced debt burden and increased international reserves, the
Georgian economy is well-positioned to withstand possible shocks
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°37.5% 38.2%View entire presentation