BAKU, Azerbaijan, April 27
By Tamilla Mammadova - Trend:
The total volume of non-bank deposits in the Georgia′ s banking sector increased by 8.89 percent or by 2.36 billion lari ($735.2 million)in March 2020 compared to February 2020, and constituted 28.88 billion lari ($7.1 billion) by April 1, 2020, Trend reports referring to National Bank of Georgia (NBG).
As reported, in March, compared to February, the volume of term deposits increased by 1.19 billion lari ($370.7 million) or by 10.06 percent. Demand deposits increased by 1.17 billion lari ($364.4 million) or by 7.94 percent.
The larization ratio of total non-bank deposits constituted 33.72 percent by April 1, 2020, having decreased by 4.59 percentage point (exchange rate effect excluded by 0.86 percentage point) compared to March 1, 2020.
The market interest rate on term deposits constituted 7.85 percent. In particular, the market interest rate for national currency denominated deposits was 10.55 percent and the market interest rate for foreign currency denominated deposits was 2.53 percent.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.60 percent and the share of the euro equals 13.91 percent.
As of April 1, 2020, the banking sector in Georgia was represented by 15 commercial banks, including 14 foreign-controlled banks.
In March 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 3.89 billion lari ($1.2 billion) or by 8.42 percent and constituted 50.13 billion lari ($15.5 billion).
The banking sector's equity capital equals 4.98 billion lari ($1.5 billion), which makes up 9.94 percent of the commercial banks total assets.
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