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Total volume of non-bank deposits in Georgian banking sector up

Finance Materials 26 February 2021 09:48
Total volume of non-bank deposits in Georgian banking sector up

BAKU, Azerbaijan, Feb.26

By Tamilla Mammadova – Trend:

The total volume of non-bank deposits in Georgian banking sector increased by 0.72 percent or by 247.84 million lari ($74.8 million) in December 2020 compared to January, 2021 and constituted 34.88 billion lari ($10.5 billion) by February 1, 2021, Trend reports via the National Bank of Georgia.

In January, the volume of term deposits increased by 625.96 million lari ($189.1 million) or by 3.88 percent. Demand deposits decreased by 378.12 million lari ($114.2 million) or by 2.04 percent; exchange rate effect excluded volume of demand deposits decreased by 2.39 percent.

The larization ratio of total non-bank deposits constituted 38.55 percent by February 1, 2021 and decreased by 0.06 percentage point (exchange rate effect excluded increased by 0.08 percentage point) compared to January 1, 2021.

The market interest rate on term deposits constituted 6.52 percent. In particular, the market interest rate for national currency denominated deposits was 8.23 percent and the market interest rate for foreign currency denominated deposits was 1.90 percent.

The share of the USD in the total volume of foreign currency denominated deposits equals 84.15 percent and the share of the euro equals 14.47 percent.

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