Feb 2019: 22.9 billion GEL deposited, 26.5 billion GEL lent

About 22.9 billion GEL (about $8.53b/€7.54b) was deposited in Georgian banks in February 2019, making for a 1.4% month-on-month decrease, show the latest data by the National Bank of Georgia (NBG).

In the same time period, Georgian banks lent 26.5 billion GEL (about $8.87b/€8.73b), which was 0.2% 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 135.7 million GEL (about $50.54m/€44.69m), while demand deposits, which allow for flexible withdrawal, increased by 183.4 million GEL (about $68.31m/€60.40m).

Loans taken out in Georgian lari increased by 66.6 million GEL (about $24.80m/€21.93m), while loans denominated in foreign currencies decreased by 14.4 million GEL (about $5.36m/€4.74m) month-on-month.

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