NBG: Non-bank deposits in Georgia’s banking sector reach 13.4b GEL

The number and sum of deposits made in Georgian banks is growing, shows current trends published by the National Bank of Georgia (NBG).

The total amount of non-bank deposits in the country's banking sector increased by 4.4 percent, or by 561.8 million GEL in September 2015 compared to the previous month and constituted 13.4 billion GEL.

In August 2015, the volume of term deposits increased by 143.1 million GEL. Demand deposits increased by 418.6 million GEL.

NBG noted, the larisation ratio of total non-bank deposits constituted 32.9 percent by September 2015. This was a decrease of 1.94 percentage points compared to August.

The annual average weighted interest rate on term deposits constituted 4.8 percent. In particular, the interest rate for national currency denominated deposits was 8.3 percent and the interest rate for foreign currency denominated deposits was 4 percent.

The share of the US dollar in the total volume of foreign currency denominated deposits equalled 82.1 percent and the share of the Euro equalled 15.5 percent.

The amount of lending by commercial banks (including loans to non-residents) in August 2015 increased by 317.4 million GEL or by 2.1 percent compared to the previous month and exceeded 15.3 billion GEL by September 2015.

The sum of loans in the national currency increased by 78.2 million GEL (up 1.4 percent) and the volume of loans in foreign currencies increased by 239.3 million GEL (up 2.5 percent) in the same period.

By the end of August 2015 commercial banks issued 1.8 billion GEL worth of national currency-denominated loans (1.1 percent less compared to the previous month) and 5.8 billion GEL worth of foreign currency denominated loans (2.2 percent more) to resident legal entities.