January 2021: 34.88 billion GEL deposited, 38.17 billion GEL lent

About 34.88 billion GEL was deposited in Georgian banks in January 2021, making for a 0.72% 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 38.17 billion GEL, which was 0.13 per cent decrease compared to the previous month.

In January, the sum of term deposits increased 3.88% per cent, while demand deposits, which allow for flexible withdrawal, increased 2.04% per cent.

Loans taken out in Georgian lari decreased 0.53 per cent while loans denominated in foreign currencies increased 0.19 per cent.

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