May 2020: amount of deposits increased by 2.31 %, loans down by 0.07%
Loans taken out in Georgian lari decreased by 28.85 million GEL, while loans denominated in foreign currencies increased by 3.45 million GEL month-on-month. Photo: Nino Alavidze/Agenda.ge.
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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.
Last month, the sum of term deposits (deposits made for a predetermined period of time) increased by 490.18 million GEL, while demand deposits, which allow for flexible withdrawal, also increased by 146.50 million GEL.
Loans taken out in Georgian lari decreased by 28.85 million GEL, while loans denominated in foreign currencies increased by 3.45 million GEL month-on-month.
There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
In May 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 331.16 million GEL, (or by 0.67 per cent) and constituted 49.45 billion GEL.
The banking sector’s equity capital equals 5.13 billion GEL, which makes up 10.37 per cent of the commercial banks total assets.
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.
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).
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 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).
About 30.54 billion GEL ($9.92 bln/€8.38 bln) was deposited in Georgian banks in July 2020, making for a 6.16 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
About 30.93 billion GEL was deposited in Georgian banks in August 2020, making for a 1.29 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
About 32.84 billion GEL was deposited in Georgian banks in September 2020, making for a 6.19 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG). In the same time period, Georgian banks lent 36.38 billion GEL, which was 5.49 per cent increase compared to the previous month.