BAKU, Azerbaijan, August 5
Tamilla Mammadova – Trend:
The assets of commercial banks reached 56 billion lari ($18.1 billion) as of June 30 in Georgia, which is 6.7 billion lari ($2.1 billion) more than in the same period of last year, Trend reports via Georgian media.
TBC and Bank of Georgia account for more than 73 percent of the assets.
The cash flow in all banks amount to 2.1 billion lari ($679.1 million), placed funds amounted to 7.8 billion lari ($2.5 billion). The loans issued that are usually the largest asset on the balance sheet - 37.1 billion lari ($11.9 billion), on which the banks expected an additional 650 million lari ($210.2 million) as accrued interest.
Deposits account for the largest share of liabilities. The volume of liabilities to depositors amounted to 35 billion lari ($11.3 billion). Funds borrowed from other financial institutions exceeded 10 billion lari ($3.2 billion), share capital stood at 6.8 billion lari ($2.1 billion).
Despite the growth trend, banks' assets decreased by 2.6 billion lari ($840.8 million) in the last 2 months mainly due to the national currency’s strengthening.
Microfinance assets for the second quarter have not yet been published. In the first quarter they amounted to 1.5 billion lari ($485.1 million).
TBC and Bank of Georgia hold dominant positions in loans and deposits. The two banks account for 41 billion lari ($13.2 billion) out of 56 billion lari ($18.1 billion) - more than 73 percent. TBC is ahead of Bank of Georgia by 1.2 billion lari ($388 million) and takes the leading position.
---
Follow the author on Twitter: @Mila61979356