BAKU, Azerbaijan, Jan. 9
By Tamilla Mammadova – Trend:
National currency deposits, allocated by individuals in Georgian commercial banks amounted to 4.13 billion lari ($1.2 billion) as of December 1, 2020, Trend reports via the National Bank of Georgia (NBG).
As reported, this indicator up from 3.59 billion lari ($1.08 billion) from the same period of the prior year, showing 15 percent growth.
According to the National Bank of Georgia, from June 2020, the volume of deposits of individuals in national currency started recording the highest volume and exceeded 4 billion lari ($1.2 billion). The record-high number has been fixed by the end of September when the portfolio amounted to 4.21 billion lari.
Out of a total of 4.13 billion lari ($1.2 billion) 1.92 billion lari ($580.06 million) has been shared by demand deposits and the remaining 2.21 billion lari ($667.6 million) – time deposit. The main part - 1.7 billion lari ($513.5 million) of time deposits are shared by savings with 6-12 months term – 829 million lari ($250.4 million) and over one year term – 905.85 million lari ($273.6 million).
The average annual interest rate on time deposit as of December 1, 2020, was 10.8 percent for 6-12 month deposit and 11.1 percent for over one year term, the rate was 9.5 percent and 10.4 percent as of December 1, 2019.
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