Report.ge tried to learn risks of taking out loans and what bank customers must know to avoid loan related complications.
As financial expert Mamuka Goguadze explains, bank assets in USD are less if compared to GEL, but they have shareholders who take dividends in foreign currency.
“As soon as the national currency starts devaluation, these people lose money; accordingly, the opinion that depreciation of the national currency suits banks is ludicrous. This doesn’t play into anybody’s hands. An increase in the number of tourists is one of the signs of fall in the GEL value, since the possibility of buying lots of local currency in USD here is profitable for tourists. Hence, it’s better for you to take out loans in a currency in which you receive your salary in order not to be concerned about depreciation,” declares Mr. Goguadze.
As experts stressed, depreciation of GEL suits tourists in the first place since they can buy much local money by paying USD.