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Total volume of non-bank deposits in Georgian banking sector decreases

Finance Materials 28 January 2020 10:39 (UTC +04:00)
Total volume of non-bank deposits in Georgian banking sector decreases

BAKU, Azerbaijan, Jan.28

By Tamilla Mammadova – Trend:

In December 2019, the total volume of non-bank deposits in Georgian banking sector decreased by 0.08 percent or by 21.23 million lari ($7.3 million), compared to November 2019 and constituted 26.26 billion lari ($9.1 billion) by January 1, 2020, Trend reports citing National Bank of Georgia (NBG).

The volume of term deposits decreased by 407.56 million lari ($141.6 million) or by 3.63 percent compared to November 2019.

In December 2019, demand deposits increased by 386.33 million lari ($134.2 million) or by 2.56 percent compared to November 2019.

On January 1, 2020 the larization ratio of total non-bank deposits constituted 36.03 percent and decreased by 0.17 percentage point compared to December 1, 2019.

The market interest rate on term deposits constituted 6.39 percent. In particular, the market interest rate for national currency denominated deposits was 9.37 percent and the market interest rate for foreign currency denominated deposits was 2.63 percent.

The share of the USD in the total volume of foreign currency denominated deposits equals 84.25 percent and the share of the euro equals 14.32 percent.

As of January 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks.

In December 2019, compared to November 2019, the total assets of Georgian commercial banks (in current prices) increased by 721.8 million lari ($250.8 million) or by 1.6 percent and constituted 47.2 billion lari ($16.4 billion).

The banking sector's own funds (equity capital) equal 5.7 billion lari ($1.9 billion), which makes up 12.2 percent of the commercial banks total assets.

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