Total assets of Georgian commercial banks grow
Baku, Azerbaijan, August 27
By Tamilla Mammadova – Trend:
The total assets of Georgian commercial banks increased by 1.3 billion lari, or 3 percent in July 2019 compared to June 2019, Trend reports referring to National Bank of Georgia.
The total assets of Georgian commercial banks reached 44.3 billion lari, as of August 1, 2019.
According to the National Bank, the banking sector of Georgia is represented by 15 commercial banks; 14 of them are foreign capital with authorized capital.
“The banking sector’s own funds amount to 5.3 billion lari, which is 12 percent of the total assets of commercial banks,” the message says.
In the second quarter of 2019, bank assets increased by 9.3 percent, and for the year (from the end of June 2018 to the end of June 2019) - by 20.7 percent.
As of July 31, 2019, the international reserves of the National Bank of Georgia amounted to $3.67 billion, which is $61.6 million less than on June 30, 2019.
The National Bank of Georgia is the central bank of Georgia. Its status is determined by the Constitution of Georgia.
(1 USD = 2.93 GEL on August 27)