January 2022: 36.77 bln GEL deposited, 42.16 bln GEL loaned

Commercial banks in Georgia loaned 42.16 billion GEL and received deposits of 36.77 billion GEL in January 2022, the National Bank of Georgia (NBG) says.

The volume of loans has decreased by 924.29 million GEL (2.15 percent) in January compared to the previous month. The number of deposits also decreased by 465.98 million GEL (1.25 percent) month-on-month.

• January 2022: money transfers to Georgia up 12.7%

In January 2022, the sum of term deposits (deposits made for a predetermined period of time) increased by 543.92 million GEL while demand deposits, which allow for flexible withdrawal, decreased by 1.01 billion GEL.

Loans taken out in Georgian lari decreased by 185.18 million GEL and loans denominated in foreign currencies also decreased by 739.11 million GEL month-on-month.

By the end of January 2022, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 6.67 billion GEL and foreign currency denominated loans constituted 13.18 billion GEL,” the NBG says.

• January 2022: annual inflation rate at 13.9%

There are 14 commercial banks in Georgia, including 13 foreign-owned banks as of January 31, 2022.

In January 2022, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 547.06 million GEL (0.9 percent) and constituted 60.02 billion GEL.

The banking sector's equity capital equals 7.91 billion GEL, which makes up 13.17 percent of the commercial banks' total assets, the NBG reports.