May 2021: 35.41 bln GEL deposited, 39.53 bln GEL lent
Loans taken out in Georgian lari increased by 1.76%, while loans denominated in foreign currencies decreased by 4.14% month-on-month. Photo: Nino Alavidze/Agenda.ge.
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Commercial banks in Georgia lent 39.53 billion GEL and received deposits of 35.41 billion GEL in May 2021, show the latest data by the National Bank of Georgia (NBG).
The amount of deposits decreased by 0.59% month-on-month, while loans decreased by 1.54%.
Last month, the sum of term deposits (deposits made for a predetermined period of time) decreased by 0.29%, while demand deposits, which allow for flexible withdrawal, increased by 0.85%.
Loans taken out in Georgian lari increased by 1.76%, while loans denominated in foreign currencies decreased by 4.14% month-on-month.
There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
In May 2021, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 1.58 billion GEL, (or by 2.7%) and constituted 57.09 billion GEL.
The banking sector’s equity capital equals 6.57 billion GEL, which makes up 11.5% of the commercial banks total assets.
There were 193 pawn shops (without branches) operating last year in Georgia of which 46.1% were located in the capital city of Tbilisi, says the National Statistics Office of Georgia (Geostat). The volume of cash assets in pawnshops at the end of 2020 equalled 14.3 million GEL, of which 83.6% was in national currency and 16.4% in foreign currency.
The Georgian central bank is leaving the refinancing rate unchanged at 9.5% following a meeting of the monetary policy committee, whose decisions on changes to the monetary policy rate rely on current and expected developments in the economy and financial markets.
The net profit of Georgian commercial banks amounted to 99.26 mln GEL in 2020 which is 89.6 per cent decrease compared to last year when net profit amounted to 953.63 million GEL, show data from the National Bank of Georgia.
Commercial banks in Georgia lent 37.94 billion GEL and received deposits of 36.03 billion GEL in March 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 0.03% month-on-month, while loans decreased by 1.27%.
Georgia received $201.9 million from abroad in June 2021, which is 19.3% more than the amount in June 2020, says the National Bank of Georgia. Russia ($39.08 million), Italy ($31.70 million) and the United States ($24.98 million) were the largest remittance senders in June 2021.
Commercial banks in Georgia lent 39.60 billion GEL and received deposits of 35.12 billion GEL in July 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 1.72%% month-on-month, while loans also increased by 0.98%. There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.