March 2022: ₾37.1 bln deposited, ₾43.3 bln loaned by banks in Georgia

Commercial banks in Georgia loaned ₾43.32 billion ($14bln/€13bln) and received deposits of ₾37.10 billion ($12bln/€11bln) in March 2022, the latest data from the National Bank of Georgia shows.  

The volume of loans increased by ₾67.52 million ($22mln/€21mln), or by 0.16 percent, in March compared to the previous month, while the number of deposits decreased by ₾531.63 million ($175mln/€164mln), or 1.41 percent, month-on-month.

In March 2022, the sum of deposits made for a predetermined period of time decreased by ₾1.02 billion, while on-demand deposits, which allow for flexible withdrawals, increased by ₾488.62 million, the NBG announced.

Loans taken out in the national currency increased by ₾281.95 million, while loans denominated in foreign currency decreased by ₾214.43 million.

The data of the Central bank also shows the total volume of national currency-denominated loans issued by commercial banks to resident legal entities increased by 0.24 percent compared to the previous month, and amounted to ₾6.58 billion in March. Foreign currency-denominated loans decreased by 0.81 percent and totalled ₾13.70 billion. 

There are 14 commercial banks in Georgia, including 13 foreign-owned entities, as of March 31, 2022.

Compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by ₾98.04 million (0.2 percent) and constituted ₾61.79 billion in March. 

The banking sector's equity capital equals ₾8.13 billion, which makes up 13.2 percent of the commercial banks' total assets, the NBG reported.