NBG reports that as of March 2025, nearly 1.9 million Georgians, roughly half the adult population, hold at least one loan, whether from banks, microfinance institutions, or pawnshops. Of these borrowers, every fifth person is over 30 days past due on at least one payment, according to the non-governmental organization ‘Society and Banks.’
The organization warns that “around 370,000 citizens are unable to repay their debts, meaning 10% of the population has at least one non-performing loan—some, several.” Most of these problematic debts are now concentrated in non-bank entities, particularly debt collection companies.
The total volume of non-performing loans held by individuals exceeds GEL 2.7 billion, painting a concerning picture of the country’s growing debt crisis. “Year after year, the number of problematic loans and over-indebted citizens continues to rise,” the institution stated. “When around 20% of the economically active population is blacklisted, this says everything about the situation we’re in.”
Meanwhile, the National Bank of Georgia (NBG) reported a GEL 108.11 million (0.17%) decrease in commercial bank loans in February 2025, bringing the total loan portfolio (excluding interbank loans) to GEL 62.58 billion. The annual growth rate of loans, adjusted for exchange rate effects, stood at 17.43%.
Loans issued in Georgian lari increased by GEL 275.56 million (0.78%), while foreign currency lending shrank by GEL 383.66 million (1.40%). Loans to resident legal entities in lari rose slightly by 0.24%, totaling GEL 10.61 billion, while foreign currency lending to the same group dropped by 1.42% to GEL 17.89 billion.
Household lending grew by GEL 122.98 million (0.39%), reaching GEL 32.06 billion by the end of February. The larization rate of total loans increased by 0.538 percentage points to 56.86%, reflecting a modest shift toward borrowing in the national currency.
