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Galt & Taggart shares overview of Georgia’s banking sector

Georgia Materials 29 November 2021 13:02 (UTC +04:00)
Galt & Taggart shares overview of Georgia’s banking sector

BAKU, Azerbaijan, Nov. 29

By Maryana Akhmedova – Trend:

Georgian banking sector loan portfolio in October 2021 increased by 16.1 percent year-on-year, excluding foreign exchange effect, while increasing by 15.8 percent year-on-year in September 2021, Trend reports citing Galt & Taggart weekly market watch.

According to the report, the same indicator increased by 1.1 percent, compared to September 2021.

In non-adjusted terms, the loan portfolio increased by 14.7 percent year-on-year (1.7 percent month-on-month increase), amounting to 41.7 billion Georgian lari ($13.2 billion), Galt & Taggart said.

Meanwhile, corporate loan growth by sector in October 2021 slowed slightly to 16.5 percent year-on-year (excluding foreign exchange effect), compared to 16.9 percent year-on-year growth in September 2021, the report said.

Retail loan growth in October 2021 accelerated to 15.7 percent year-on-year, compared to 14.8 percent year-on-year growth in September 2021, Galt & Taggart said.

According to Galt & Taggart, loan dollarization in October 2021 was at 51.3 percent – 4.37 percentage points decrease year-on-year and 0.09 percentage points decrease month-on-month.

Meanwhile, non-performing loans stood at 2.1 percent – 0.21 percentage points decrease year-on-year and 0.05 percentage points decrease month-on-month, the report said.

Bank deposits growth in October 2021 increased to 14.2 percent year-on-year to 36.4 billion Georgian ($11.5 billion) – 0.6 percent month-on-month increase (excluding foreign exchange effect), compared to 12.7 percent year-on-year growth in September 2021.

According to the report, deposits in Georgian lari in October 2021 increased by 17 percent year-on-year, while foreign exchange deposits increased by 12.4 percent (excluding the foreign exchange effect). The deposit dollarization in October 2021 stood at 60.8 percent (1.46 percentage points decrease year-on-year and 0.05 percentage points increase month-on-month).

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