May 2020: amount of deposits increased by 2.31 %, loans down by 0.07%

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.