May 2019: 24 billion GEL deposited, 27 billion GEL lent

About 24.01 billion GEL (about $8.62b/€7.57b) was deposited in Georgian banks in May 2019, making for a 3.71% month-on-month increase, show the latest data by the National Bank of Georgia (NBG).

In the same time period, Georgian banks lent 27.63 billion GEL (about $9.92b/€8.71b), which was 3.57% increase compared to the previous month.

Current tendencies of bank deposits and loans

Last month, the sum of term deposits (deposits made for a predetermined period of time) increased by 504.46 million GEL (about $181.13m/€159.11m), while demand deposits, which allow for flexible withdrawal, increased by 353.52 million GEL (about $126.94m/€111.50m).

Loans taken out in Georgian lari increased by 254.13 million GEL (about $91.25m/€80.15m), while loans denominated in foreign currencies decreased by 697.68 million GEL (about $250.51m/€220.05m) month-on-month.

There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.