NBG outlines current banking trends in Georgia

Latest trends of deposits made in Georgian banks show the total volume of non-bank deposits and demand deposits are growing in Georgia

The statistics released by the National Bank of Georgia (NBG) said, the total volume of non-bank deposits in the country's banking sector increased by 1.4 percent, or by 198.8 million GEL(about $83.36 million USD), compared to November 1, 2015 and constituted 14.1 billion GEL (about $5.91 million USD).

NBG said, demand deposits increased by 67.6 million GEL (about $28.34 million USD).

The larisation ratio of total non-bank deposits constituted 31.01 percent by December 1, 2015; It decreased by 0.13 percentage point compared to November 1, 2015.

The annual average weighted interest rate on term deposits constituted 5.6 percent. In particular, the interest rate for national currency denominated deposits was 11.9 percent and the interest rate for foreign currency denominated deposits 4.4 percent.

NBG noted, the share of the US dollar in the total volume of foreign currency denominated deposits equals 81.6 percent and the share of the Euro equals 15.7 percent.