Georgian banks offer 3-month repayment holidays on loans

Given the current situation in the country, leading local banks, TBC Bank and Bank of Georgia, are launching a new, customer-oriented policy, i.e. offering three-month repayment holidays on loans amidst the coronavirus pandemic, Georgia Today reports.

As the banks' representatives note, the above decision aims to make life easier for people and businesses.

"In light of current developments, we think it is important to reduce the flow of people in public gathering places to prevent the spread of coronavirus.

"For this purpose, we will offer all individuals a three-month repayment holiday period on loans and remote service.

"Each customer will receive detailed information individually," the Bank of Georgia said in a statement released yesterday.

TBC Bank has also released a statement in this regard.

“We have decided to offer three-month repayment holidays on micro, small and medium loans to all individuals, as well as all businesses engaged in tourism or food service.

"With the current situation in the country, TBC makes life easier for people and businesses.

"Customers will receive detailed information individually,” reads the statement.