BAKU, Azerbaijan, Jan. 26
By Tamilla Mammadova – Trend:
The total volume of non-bank deposits in the Georgian banking sector increased by 3.09 percent or by 1.04 billion lari ($316.08 million) in November 2020 compared to December 2020 and constituted 34.63 billion lari ($10.5 billion) by January 1, 2021, Trend reports via the National Bank of Georgia (NBG).
In December, the volume of term deposits decreased by 21.21 million lari ($6.4 million), by 0.13 percent. Demand deposits increased by 1.06 billion lari ($322.1 million), by 6.07 percent.
The larization ratio of total non-bank deposits constituted 38.61 percent by January 1, 2021, and increased by 0.57 percentage point (exchange rate effect excluded by 0.39 percentage point) compared to December 1, 2020.
The market interest rate on term deposits constituted 6.34 percent. In particular, the market interest rate for national currency denominated deposits were 8.31 percent and the market interest rate for foreign currency denominated deposits was 2.01 percent.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.24 percent and the share of the euro equals 14.39 percent.
As of January 1, 2021, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks.
In December 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 966.9 million lari ($293.8 million), or by 1.73 percent, and constituted 56.9 billion lari ($17.2 billion).
The banking sector’s equity capital equals 5.85 billion lari ($1.7 billion), which makes up 10.28 percent of the commercial banks total assets.
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