Total volume of non-bank deposits increases in Georgia
Baku, Azerbaijan, August 28
By Tamilla Mammadova – Trend
As of August 1, 2019, the total volume of non-bank deposits in Georgia’s banking sector increased by 1.24 percent or by 307.18 million lari (exchange rate effect excluded, the volume of deposits decreased by 0.32 percent), compared to July 1, 2019 and constituted 25.00 billion lari, Trend reports with reference to National Bank of Georgia.
In July, the volume of term deposits increased by 116.51 million lari (by 1.13 percent; exchange rate effect excluded, a decrease by 0.71 percent). Demand deposits increased by 190.66 million lari (by 1.33 percent; exchange rate effect excluded, a decrease by 0.05 percent).
The larization ratio of total non-bank deposits constituted 36.72 percent by August 1, 2019 and decreased by 1.21 percentage point (exchange rate effect excluded, by 0.63 percentage point) compared to July 1, 2019.
The market interest rate on term deposits constituted 5.36 percent. In particular, the market interest rate for national currency denominated deposits was 7.46 percent and the market interest rate for foreign currency denominated deposits was 2.94 percent.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.84 percent and the share of the Euro equals 13.62 percent.
(1 USD = 2.94 GEL on August 28)