Volume of non-bank deposits in Georgian banking sector in July ups nine per cent

Business Materials 30 August 2012 13:51

Georgia, Tbilisi, Aug. 30 / Trend N. Kirtzkhalia /

The volume of non-bank deposits in the Georgian banking sector as of August hit 7.8 billion lari ($ 1 = 1.65 lari). According to the Georgian National Bank, this is by 643.2 million lari , nine per cent more than the rates as of June 1, 2012.

The dollarization ratio in July was 62.44 per cent, or 0.11 per cent less than in June.

The average interest rate in urgent deposits was 8.4 per cent, including deposits in the national currency of 11 per cent, while foreign currency deposits were 8.2 per cent.

Around 80.8 per cent of foreign currency deposits accounted for the dollar with 16.6 per cent in euros.