Daily News: Economics
June 19, 2020
NBG: COVID-19 CAUSED DECREASE OF COMMERCIAL BANKS’ DESIRE TO ISSUE RISKY CREDITS
National Bank of Georgia (NBG) estimates that COVID-19 caused “decreased risk appetite” of financial institutions concerning crediting (i.e. decreased desire to issue the risk credits), potential growth of idle credits and raised importance of use of remote channels. In respect of non-financial risks, major challenge in conditions of the pandemic are increased expectations concerning corporate social responsibility of financial institutions, increased dependence on information technologies and increased risks of cyber security, NBG specifies.
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