BAKU, Azerbaijan, June 25
By Tamilla Mammadova – Trend:
The total volume of non-bank deposits in Georgia's banking sector increased by 2.31 percent or by 636.68 million lari ($209.1 million) in June 2020 compared to May 2020 and constituted 28.22 billion lari ($9.2 billion) by June 1, 2020, Trend reports referring to National Bank of Georgia (NBG).
In May, the volume of term deposits increased by 490.18 million lari ($161.05 million) compared to April 2020. In the reporting period demand deposits increased by 146.50 million lari ($48.1 million) or by 0.97 percent.
The larization ratio of total non-bank deposits constituted 35.92 percent by June 1, 2020 and increased by 1.57 percentage point (exchange rate effect excluded by 1.46 percentage point) compared to May 1, 2020.
The market interest rate on term deposits constituted 7.02 percent. In particular, the market interest rate for national currency denominated deposits was 9.53 percent and the market interest rate for foreign currency denominated deposits was 2.93 percent.
The share of the dollar deposits in the total volume of foreign currency denominated deposits equals 84.34 percent and the share of the euro deposits equals 14.33 percent.
As of June 1, 2020, the banking sector in Georgia was represented by 15 commercial banks, including 14 foreign-controlled banks.
In May 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 331.16 million lari ($108.8 million) or by 0.67 percent compared to April 2020 and constituted 49.45 billion lari ($16.2 billion).
The banking sector’s equity capital equals 5.13 billion lari ($1.6 billion), which makes up 10.37 percent of the commercial banks total assets.
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