BAKU, Azerbaijan, October 27
By Tamilla Mammadova – Trend:
The total volume of non-bank deposits in the Georgian banking sector increased by 6.19 percent or by 1.91 billion lari ($594.9 million) in August 2020 compared to September and constituted 32.84 billion lari ($10.2 billion) by October 1, 2020, Trend reports via the National Bank of Georgia.
In September, the volume of term deposits increased by 821.96 million lari ($256.04 million) or by 5.66 percent. Demand deposits increased by 1.09 billion lari ($339.5 million) (exchange rate effect excluded volume of demand deposits increased by 2.45 percent).
The larization ratio of total non-bank deposits constituted 38.41 percent by October 1, 2020, and decreased by 2.08 percentage point (exchange rate effect excluded by 0.49 percentage point) compared to September 1, 2020.
The market interest rate on term deposits constituted 6.46 percent. In particular, the market interest rate for national currency denominated deposits were 8.33 percent and the market interest rate for foreign currency denominated deposits was 2.42 percent.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.38 percent and the share of the Euro equals 14.14 percent.
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