NEWS

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.

Agenda.ge, 27 Apr 2020 - 12:44, Tbilisi,Georgia

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.

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