NEWS

Feb 2020: 26.52 billion GEL deposited, 31.63 billion GEL lent

The amount of deposits increased by 0.17% month-on-month, while loans decreased by 0.92%. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 25 Mar 2020 - 16:41, Tbilisi,Georgia

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).

The amount of deposits increased by 0.17% month-on-month, while loans decreased by 0.92%.

Last month, the sum of term deposits (deposits made for a predetermined period of time) increased by 329.78 million GEL (about $101m/€93.40m), while demand deposits, which allow for flexible withdrawal, decreased by 284.79 million GEL (about $0.45b/€0.40b).

Loans taken out in Georgian lari increased by 124.34 million GEL (about $87.23m/€80.66m), while loans denominated in foreign currencies decreased by 418.74 million GEL (about $128.25m/€118.60m) 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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