March 2020: amount of deposits increased by 8.89%, loans up by 10.64%
The amount of deposits increased by 8.89% month-on-month, while loans also increased by 10.64%. Photo: Nino Alavidze/Agenda.ge.
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Commercial banks in Georgia lent 34.99 billion GEL (about $10.90b/€10.05b) and received deposits of 28.88 billion GEL (about $9b/€8.30b) in March 2020, show the latest data by the National Bank of Georgia (NBG).
The amount of deposits increased by 8.89% month-on-month, while loans also increased by 10.64%.
Last month, the sum of term deposits (deposits made for a predetermined period of time) increased by 1.19 billion GEL (about $0.37b/€0.34b), while demand deposits, which allow for flexible withdrawal, also increased by 1.17 billion GEL (about $0.36b/€0.34b).
Loans taken out in Georgian lari increased by 43.61 million GEL (about $13.59m/€12.53m), while loans denominated in foreign currencies increased by 3.32 billion GEL (about $1.03m/€0.95m) month-on-month.
There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
Commercial banks in Georgia lent 31.63 billion GEL (about $9.69b/€8.96b) and received deposits of 26.52 billion GEL (about $8.12b/€7.51b) in February 2020, show the latest data by the National Bank of Georgia (NBG).
About 26.47 billion GEL ($9.47 bln/€8.74 bln) was deposited in Georgian banks in January 2020, making for a 0.83 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
In December 2019, 26.26 billion GEL ($9.07 bln/€8.23 bln) was deposited in Georgian commercial banks, which is a 0.08 per cent month-on-month decrease, show the latest data by the National Bank of Georgia.
In November 2019, 26.28 billion GEL ($9.16 bln/8.28 bln) was deposited in Georgian commercial banks, which is a 0.14 per cent month-on-month decrease, show the latest data by the National Bank of Georgia.
Following the spread of coronavirus, credit activity has slowed significantly in Georgia and this year credit portfolio growth will shrink between 0 and 5%, announces the National Bank of Georgia.
Commercial banks in Georgia lent 34.18 billion GEL and received deposits of 28.22 billion GEL in May 2020, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 2.31 per cent month-on-month, while loans decreased by 0.07 per cent.
Commercial banks in Georgia lent 33.80 billion GEL and received deposits of 28.77 billion GEL in June 2020, show the latest data by the National Bank of Georgia (NBG).