BAKU, Azerbaijan, October 13
By Tamilla Mammadova – Trend:
Annual weighted average interest rate at Georgian commercial banks in lari savings was 9.5 percent as of September 1, 2020, down from 10 percent of August 1, 2020, Trend reports via the National Bank of Georgia (NBG).
According to the NBG, total volume of deposits (demand and time deposits) of individuals at Georgian commercial banks in national currency amounted to 4.14 billion lari ($1.2 billion) as of September 1, 2020. The volume was 4.12 billion lari ($1.2 billion) as of August 1, 2020.
Foreign currency deposits allocated by individuals in the commercial banks amounted to 12.23 billion lari ($3.8 billion) as of September 1, 2020, up from 12.10 billion lari ($3.7 billion) from August 1, 2020. Annual weighted average interest rate stood at 2.9 percent .
With 11.86 percent on lari deposits, Pasha Bank is the most attractive bank for depositors. It is followed by TeraBank with 10.55 percent, Halyk Bank –10.50 percent, Finca Bank –10.07 percent, BasisBank - 10.02 percent, Credo Bank – 9.80 percent, Liberty Bank – 9.40 percent, VTB Bank Georgia – 9.33 percent, TBC Bank - 9.30 percent, Bank of Georgia – 9.30 percent, Cartu Bank – 9.20 percent and ProCredit Bank Georgia – 7 percent. The lowest interest rate has been offered by Silk Road Bank, amounting 4 percent .
The best offer for Georgian depositors making savings in USD is made by TeraBank. Annual interest rate in the Bank is 3.50 percent. TeraBank is followed by BasisBank and Cartu Bank, both offering equal, 3 percent, Pasha Bank- 2.61 percent, ProCredit Bank Georgia and Halyk Bank – 2.5 percent, Liberty Bank - 2.45 percent, VTB Bank Georgia, TBC Bank, Bank of Georgia and Credo Bank - 2.35 percent, Finca Bank – 1.80 percent and Silk Road Bank - 1.50 percent.
Annual interest rates were studied at term deposits, for 1 year period, with interest withdrawal at the end of the term. The figures were taken from official websites of the banks.
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