BAKU, Azerbaijan, June 1
By Tamilla Mammadova - Trend:
Georgia' international reserves increased by $77.2 million in April 2020 compared to March 2020, Trend reports referring to the report published by the National Bank of Georgia (NBG).
The growth of international reserves was affected by swap operations with commercial banks.
According to the report, the National Bank sold $40 million at an auction on May 21. This was the fifth foreign exchange intervention of the bank this year.
As of May 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks. The total assets of Georgian commercial banks in current prices decreased by 1.01 billion lari ($317.4 million) or by 2.01 percent in April 2020, compared to the previous month, and constituted 49.12 billion lari ($15.4 billion).
The banking sector’s equity capital stands at 5.05 billion lari ($1.5 billion), which makes up 10.29 percent of the commercial banks total assets.
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