Non-bank deposit volume increases by 1.8 percent in Georgian banking sector

Business Materials 26 June 2013 11:24 (UTC +04:00)

Georgia, Tbilisi, June 26 / Trend N. Kirtzkhalia /

As of June 1, 2013, the volume of non-bank deposits, placed in the Georgian banking sector, exceeded 8.3 billion lari ($ 1 = 1.65 lari) or by 150.6 million lari (1.8 percent) more than as of May 1, 2013.

The Georgian National Bank told Trend on Thursday that there was an increase in demand deposits by 184.3 million lari (5.2 percent) and a decrease of term deposits by 33.7 million lari (0.7 percent) in May compared to the previous month.

A dollarization ratio in May was 62.22 percent or 0.81 percentage points less than in April.

According to the National Bank, the annual average interest rate on time deposits was 7.6 percent, including deposits in national currency - 10.3 percent and in foreign currency - 6.9 percent.

The share of dollars in the deposits placed in foreign currency was 80.5 percent, euro - 17.1 percent.