January 2021: 34.88 billion GEL deposited, 38.17 billion GEL lent
Loans taken out in Georgian lari decreased 0.53 per cent while loans denominated in foreign currencies increased 0.19 per cent. Photo: Nino Alavidze/Agenda.ge.
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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.
About 33.59 billion GEL was deposited in Georgian banks in November 2020, making for a 4.05 per cent month-on-month increase, show the latest data by the National Bank of Georgia (NBG).
About 32.28 billion GEL was deposited in Georgian banks in October 2020, making for a 1.71 per cent month-on-month decrease, show the latest data by the National Bank of Georgia (NBG).
About 32.84 billion GEL was deposited in Georgian banks in September 2020, making for a 6.19 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 36.38 billion GEL, which was 5.49 per cent increase compared to the previous month.
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).
Standard & Poor's (S&P) Global Ratings has affirmed Georgia’s long- and short-term foreign and local currency sovereign credit ratings at 'BB/B'. S&P has meanwhile revised its outlook from stable to negative. S&P reported yesterday that 'the negative outlook reflects risks to Georgia's ability to generate adequate foreign exchange (FX) earnings to service its sizable external liabilities over our forecast horizon'.
Georgia has reported 248 new cases of coronavirus, 525 recoveries and 11 deaths over the last 24 hours.