Volume of non-bank deposits up in Georgia
BAKU, Azerbaijan, May 26
By Tamilla Mammadova – Trend:
The total volume of non-bank deposits in the country′ s banking sector decreased by 4.49 percent or by 1.30 billion lari ($408.5 million) in April 2020 compared to March 2020 and stood at 27.58 billion lari ($8.6 billion) by May 1, 2020 in Georgia, Trend reports via the National Bank of Georgia.
In April, the volume of term deposits decreased by 523.02 million lari ($164.3 million) or by 4.02 percent compared to March 2020. Demand deposits decreased by 774.69 million lari ($243.4 million) or by 4.89 percent.
The larization ratio of total non-bank deposits constituted 34.35 percent by May 1, 2020 and increased by 0.63 percentage point (exchange rate effect excluded by 0.01 percentage point) compared to April 1, 2020.
The market interest rate on term deposits stood at 6.82 percent. In particular, the market interest rate for national currency denominated deposits was 10.05 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 84.55 percent and the share of the euro equals 13.99 percent.
As of May 1 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks. In April 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 1.01 billion lari ($317.4 million) or by 2.01 percent and constituted 49.12 billion lari ($15.4 billion).
The banking sector’s equity capital equals 5.05 billion lari ($1.5 billion), which makes up 10.29 percent of the commercial banks total assets.
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