Reserves of the National Bank of Georgia increase

Finance Materials 8 January 2020 19:58 (UTC +04:00)

BAKU, Azerbaijan, Jan. 8

By Tamilla Mammadova – Trend:

The official international reserves of the National Bank of Georgia (NBG) in December 2019 increased by approximately $167 million compared to November 2019, Trend reports with reference to NBG.

As of December 30, 2019, the bank's official reserve assets amounted to $3.493 billion.

On an annualized basis, the bank's reserves grew by $205 million. As of December 31, 2018, reserves amounted to $3.288 billion.

Reserves of the National Bank have historically been at the highest level in June 2019 amounting to $3.735 billion.

As of December 25, 2019, Georgian banking sector's own funds (equity capital) equaled 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 was represented by 15 commercial banks, including 14 foreign-controlled banks.


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