Net international investment position of Georgia improves
BAKU, Azerbaijan, December 28
By Tamilla Mammadova – Trend:
The net international investment position (IIP) of Georgia amounted to -$22.8 billion for September 30, 2019, accounting for -130.7 percent of the last four quarter GDP, Trend reports referring to National Bank of Georgia (NBG).
In the third quarter of 2019, net IIP improved by $574.4 million compared to the second quarter.
International assets amounted to $10.3 billion.
Liabilities decreased by $579.3 million during the third quarter totaling $33.1 billion.
In November 2019, the total assets of Georgian commercial banks (in current prices) increased by 140.4 million lari ($49.1 million) or by 0.3 percent compared to October 2019, and stood at 46.5 billion lari ($16.2 billion).
As of December 25, 2019, the banking sector's own funds (equity capital) equal 5.6 billion lari ($1.9 billion), which makes up 12 percent of the commercial banks total assets.
As of December 1, 2019, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks.
Follow the author on Twitter: @Mila61979356