Jan 2021: 34.6 bln GEL deposited, 38.2 bln GEL lent

Commercial banks in Georgia lent 38.2 billion GEL and received deposits of 34.6 billion GEL in January 2021, show the latest data by the National Bank of Georgia (NBG).

The amount of deposits increased by 3.09% month-on-month, while loans also increased by 2.3%. 

Last month, the sum of term deposits (deposits made for a predetermined period of time) decreased by 21.21 million GEL, while demand deposits, which allow for flexible withdrawal, increased by 1.06 billion GEL.

Loans taken out in Georgian lari increased by 676.9 million GEL, while loans denominated in foreign currencies increased by 181.77 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 December 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 966.9 million GEL, (or by 1.73%) and constituted 56.9 billion GEL.

The banking sector’s equity capital equals 5.85 billion GEL, which makes up 10.28% of the commercial banks total assets.