BAKU, Azerbaijan, Nov. 25
By Tamilla Mammadova – Trend:
The total volume of non-bank deposits in the Georgian banking sector decreased by 1.71 percent or by 561.89 million lari ($170.4 million) in September 2020, compared to October 2020 and constituted 32.28 billion lari ($9.8 billion) by November 1, 2020, Trend reports via the National Bank of Georgia.
In October, the volume of term deposits decreased by 119.86 million lari ($36.3 million). Demand deposits decreased by 442.04 million lari ($134.06 million); the exchange rate effect excluded volume of demand deposits decreased by 1.46 percent.
The larization ratio of total non-bank deposits constituted 37.75 percent by November 1, 2020, and decreased by 0.65 percentage point (exchange rate effect excluded by 1.05 percentage point) compared to October 1, 2020.
The market interest rate on term deposits constituted 6.27 percent. In particular, the market interest rate for national currency denominated deposits were 8.37 percent and the market interest rate for foreign currency denominated deposits was 2.36 percent.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.41 percent and the share of the Euro equals 14.18 percent.
As of November 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks. In October 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 427.12 million lari ($129.5 million) and constituted 53.92 billion lari ($16.3 billion).
The banking sector's equity capital equals 5.63 billion lari ($1.7 billion), which makes up 10.44 percent of the commercial banks total assets.
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