Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 16. Client Deposits and Notes continued Amounts due to customers include accounts with the following types of customers: 2018 2017 2016 Individuals 4,832,966 3,883,940 3,134,251 Private enterprises 2,760,667 2,364,255 2,110,975 State and state-owned entities 540,220 464,287 137,472 Client deposits and notes 8,133,853 6,712,482 5,382,698 The breakdown of customer accounts by industry sector is as follows: 2018 2017 2016 Individuals 4,832,966 3,883,940 3,134,251 Trade 536,619 576,524 420,402 Government services 508,410 438,492 102,530 Financial intermediation 397,638 314,081 365,515 Service 300,671 297,393 264,609 Transport and communication 342,745 257,818 213,301 Construction 572,628 257,799 272,351 Manufacturing 178,619 224,230 208,145 Real estate 101,020 103,800 66,207 Electricity, gas and water supply 95,987 93,097 95,651 Hospitality 40,216 44,241 22,248 Other 226,334 221,067 217,488 Client deposits and notes 8,133,853 6,712,482 5,382,698 17. Amounts Owed to Credit Institutions Amounts due to credit institutions comprise: 2018 2017 2016 Borrowings from international credit institutions 989,740 1,423,840 1,221,070 Short-term loans from the National Bank of Georgia 1,118,957 793,528 1,085,000 Time deposits and inter-bank loans 214,479 305,287 397,506 Correspondent accounts 118,692 204,512 329,609 Other borrowings* 133,830 – – 2,575,698 2,727,167 3,033,185 Non-convertible subordinated debt 419,181 428,672 436,906 Amounts due to credit institutions 2,994,879 3,155,839 3,470,091 *Other borrowings represent borrowings from JSC Georgia Capital on arm’s length terms. During the year ended 31 December 2018, the Group paid up to 6.10% on US$ borrowings from international credit institutions (2017: up to 6.27%, 2016: up to 5.79%). During the year ended 31 December 2018, the Group paid up to 10.00% on US$ subordinated debt (2017: up to 8.92% and 2016: up to 8.44%). Some long-term borrowings from international credit institutions are received upon certain conditions (the “Lender Covenants”) that the Group maintains different limits for capital adequacy, liquidity, currency positions, credit exposures, leverage and others. At 31 December 2018, 31 December 2017 and 31 December 2016 the Group complied with all the Lender Covenants of the significant borrowings from international credit institutions. 242 Annual Report 2018Bank of Georgia Group PLC