December 2021: 37.16 bln GEL deposited, 43.03 bln GEL loaned
Loans taken out in Georgian lari increased by 685.88 million GEL and loans denominated in foreign currencies also increased by 941.36 million GEL month-on-month. Photo: Nino Alavidze/Agenda.ge.
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Commercial banks in Georgia loaned 43.03 billion GEL and received deposits of 37.16 billion GEL in December 2021, the National Bank of Georgia (NBG) says.
The volume of loans has increased by 1.63 billion GEL (3.93%) in December compared to the previous month. The number of deposits also increased by 1.42 billion GEL (3.96%) month-on-month.
In December 2021, the sum of term deposits (deposits made for a predetermined period of time) increased by 191.41 million GEL and demand deposits, which allow for flexible withdrawal, also increased by 1.22 billion GEL.
Loans taken out in Georgian lari increased by 685.88 million GEL and loans denominated in foreign currencies also increased by 941.36 million GEL month-on-month.
By the end of December 2021, the total volume of national currency-denominated loans to resident legal entities issued by commercial banks amounted to 6.92 billion GEL and foreign currency-denominated loans constituted 13.69 billion GEL,” the NBG says.
There are 14 commercial banks in Georgia, including 13 foreign-owned banks as of January 1, 2022.
In December 2021, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 1.04 billion GEL (1.75%) and constituted 60.57 billion GEL.
The banking sector's equity capital equals 7.73 billion GEL, which makes up 12.76% of the commercial banks' total assets, the NBG reports.
The Consumer Price Index in December 2021 grew by 0.3% compared to the previous month, while the annual inflation rate in Georgia stood at 13.9%, the latest inflation data of the National Statistics Office of Georgia (Geostat) show.
Remittances to Georgia from abroad hit $168.8 million in January 2022, a 12.7 percent increase on the corresponding figure from January 2021, the National Bank of Georgia (NBG) announced on Tuesday.
The Consumer Price Index in Georgia increased by 1.1 percent in January 2022 compared to the previous month, while the annual inflation rate stood at 13.9 percent, the latest inflation data of the National Statistics Office of Georgia (Geostat) shows.
The National Bank of Georgia (NBG) has decided to keep the refinancing rate unchanged at 10.5 percent at a meeting of the Monetary Policy Committee (MPC) earlier today. A “particular concern” for increased inflation was named by the bank in its comments, with the Consumer Price Index growing by 0.3 percent in December 2021 and the annual inflation rate amounting to 13.9 percent in the country.
Georgia has received 229.5 million USD from abroad in December 2021, which is 14.9% more than the amount received in December 2020, the National Bank of Georgia (NBG) reports.
Commercial banks in Georgia loaned 41.40 billion GEL and received deposits of 35.75 billion GEL in November of this year, the National Bank of Georgia (NBG) reports.
The National Bank of Georgia (NBG) has increased the refinancing rate by 0.5 percentage points to 10.5% earlier today at the Monetary Policy Committee (MPC). The NBG states that increased inflation has been one of the main challenges for Georgia in recent years.