Volume of non-bank deposits increase in Georgia

Business Materials 23 August 2013 20:42 (UTC +04:00)

Georgia, Tbilisi, Aug. 23 /Trend N.Kirtzkhalia /

The volume of non-bank deposits placed in Georgia's banking sector by August 1, 2013, amounted to 8.7 billion laris ($1 = 1.66 lari), which is 149.9 million laris (1.8 percent) more than the indicator of July 1.

There has been an increase in demand deposits by 111.8 million laris that is by three percent, as well as, a growth of fixed time deposit by 38.1 million laris, or by 0.8 percent Georgian National Bank told Trend on Friday.

Deposits' dollarization ratio amounted to 61.9 percent, up to 0.2 percent more than in June.

Average annual interest rate on fixed time deposits was 6.6 percent, out of these, the deposits placed in the national currency accounted for nine percent, and 5.5 percent for deposits placed in the foreign currency.

Dollar's share in deposits placed in foreign currency was 80.6 percent, and the euro's share was 16.9 percent.