Aug 2020: 30.93 billion GEL deposited, 34.49 billion GEL lent

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).

In the same time period, Georgian banks lent 34.49 billion GEL, which was 0.01 per cent decrease compared to the previous month.

In August, the sum of term deposits increased 4.04 per cent, while demand deposits, which allow for flexible withdrawal, decreased 1.03 per cent.

Loans taken out in Georgian lari increased 1.30 per cent while loans denominated in foreign currencies decreased 0.98 per cent.

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

In August 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased 0.39 per cent.

The banking sector’s equity capital equals 5.38 billion GEL, which makes up 10.55 per cent of the commercial banks total assets.