BAKU, Azerbaijan, June 29
By Tamilla Mammadova – Trend:
Georgian banking sector external debt amounted to $4.4 billion or 25 percent of gross domestic product (GDP) as of March 31, 2020, Trend reports referring to National Bank of Georgia (NBG).
As reported, other sectors' external debt exceeded $4.4 billion and stood at 25.2 percent of GDP, while $3.3 billion or 18.7 percent of GDP was the intercompany lending.
The 89.8 percent of the gross external debt of Georgia was denominated in foreign currency.
The net external debt of Georgia amounted to $10.6 billion or 60 percent of GDP as of March 31, 2020. Net public sector external debt was $4.3 billion or 24.6 percent of GDP.
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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