Total volume of non-bank deposits in Georgia′ s banking sector up
BAKU, Azerbaijan, Sept. 26
By Tamilla Mammadova – Trend:
The total volume of non-bank deposits in Georgia′ s banking sector increased by 1.29 percent or by 392.65 million lari ($119.7 million) in July 2020, compared to August 2020 and constituted 30.93 billion lari ($9.4 billion) by September 1, 2020, Trend reports via National Bank of Georgia.
In August, the volume of term deposits increased by 563.69 million lari ($171.8 million) or by 4.04 percent. Demand deposits decreased by 171.04 million lari ($52.1 million) or by 1.03 percent.
The larization ratio of total non-bank deposits constituted 40.48 percent by September 1, 2020 and increased by 1.06 percentage point (exchange rate effect excluded by 1.07 percentage point) compared to August 1, 2020.
The market interest rate on term deposits constituted 6.36 percent. In particular, the market interest rate for national currency denominated deposits was 8.34 percent and the market interest rate for foreign currency denominated deposits was 2.75 percent.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.75 percent and the share of the Euro equals 13.85 percent.
As of September 1 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks. In August 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 197.39 million lari ($60.1 million) or by 0.39 percent and constituted 50.98 billion lari ($15.5 billion).
The banking sector's equity capital equals 5.38 billion lari ($1.6 billion), which makes up 10.55 percent of the commercial banks total assets.
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