December 2018: 23 billion GEL deposited, 26.6 billion GEL lent

About 23 billion GEL (about $8.63b/€7.61b) was deposited in Georgian banks in December 2018, making for a 4.7% month-on-month increase.

In the same time periods, Georgian banks lent 26.6 billion GEL (about $9.99b/€8.80b), which was 1.8% 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) decreased by 126.2 million GEL (about $47.38m/€41.73m), while demand deposits, which allow for flexible withdrawal, increased by 1.2 billion GEL (about $0.45b/€0.40b).

Loans taken out in Georgian lari increased by 159.3 million GEL (about $59.80m/€52.68m), while loans denominated in foreign currencies also increased by 321 million GEL (about $120.51m/€106.15m) month-on-month.

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