March 2018: 19.6 billion GEL deposited, 22.2 billion lent

Higher prices for vegetables contributed to a 0.9% increase in the cost of food and non-alcoholic beverages month-on-month, noted Geostat. Photo by N. Alavidze/, 26 Apr 2018 - 16:44, Tbilisi,Georgia

About 19.6 billion GEL was deposited in Georgian banks in March 2018, making for a 2.4 percent (459.1 million GEL) month-over-month increase.

During the same time, Georgian banks lent 22.2 million GEL, which was 286.6 million GEL or 1.3 percent more compared to the previous month, show the latest data by the National Bank of Georgia (NBG).

Current tendencies of bank deposits and loans

Last month, the sum of term deposits (deposits made for a predetermined period of time) increased by 461.3 million GEL, while demand deposits, which allow for flexible withdrawal, also decreased by 2.2 million GEL.

As for loans taken out in Georgian lari, it increased by 247.5 million GEL (2.6 percent), while loans denominated in foreign currencies also increased by 39.1 million GEL (0.3 percent) month-over-month.

There are 16 commercial banks in Georgia, including 15 foreign-owned banks and one branch of non-resident banks.