Volume of total deposits up in Georgia
BAKU, Azerbaijan, May 2
By Tamilla Mammadova - Trend:
In March 2020, banks' liabilities on the deposit system in Georgia increased by 1.53 billion lari ($478.7 million) compared to the previous month and amounted to 28.1 billion lari ($8.7 billion), Trend reports referring to the National Bank of Georgia (NBG).
Meanwhile, the volume of total deposits increased by 22 percent, compared to the same period of 2019.
Compared to February 2020, the volume of deposits in lari decreased by 806.4 million lari ($252.3 million) and amounted to 9.36 billion lari ($2.9 billion), which, according to the National Bank, slightly reduced the effect of government deposits in commercial banks.
The current margin in March decreased by 514.7 million lari ($161 million) month-on-month, and term deposits - by 292.5 million lari ($91.5 million).
The official international reserves of the National Bank of Georgia in March 2020 decreased by $38.6 million. According to the National Bank, foreign exchange auctions (selling of $100 million) affected the reduction of international reserves.
As reported, the policy of accumulating reserves allowed the National Bank to provide additional foreign exchange resources to the market through interventions.
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