June 2022: $13.02 bln deposited, $14.85 bln loaned by banks in Georgia
The volume of loans increased by 1.24 percent in June compared to the previous month, while the number of deposits increased by three percent month-on-month. Photo: Nino Alavidze/Agenda.ge
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Commercial banks in Georgia loaned ₾43.65 billion ($14.85bln) and received deposits of ₾38.27 billion ($13.02bln) in June 2022, the latest data from the National Bank of Georgia shows.
The volume of loans increased by 1.24 percent in June compared to the previous month, while the number of deposits increased by three percent month-on-month.
Last month, the sum of deposits made for a predetermined period of time increased by 1.42 percent, while on-demand deposits, which allow for flexible withdrawals, increased by 4.13 percent, the NBG announced.
Loans taken out in the national currency increased by 2.06 percent, while loans denominated in foreign currency also increased by 0.39 percent.
There are 14 commercial banks in Georgia, including 13 foreign-owned entities, as of the end of June 2022.
Compared to the previous month, the total assets of commercial banks in Georgia (in current prices) increased by 2.5 percent and constituted ₾64.2 billion ($21.84bln).
The banking sector's equity capital equals ₾8.3 billion ($2.82), which makes up 12.9 percent of the commercial banks' total assets, the NBG reported.
The National Bank of Georgia (NBG) has decided to increase the refinancing rate by 0.5 percentage points to 11 percent on Wednesday at its Monetary Policy Committee (MPC).
Georgia received $427.4 million from abroad in June 2022, which is 111.7 percent more than the amount in June 2021, says the National Bank of Georgia.
Commercial banks in Georgia loaned ₾43.12 billion ($14.67bln/€13.86bln) and received deposits of ₾37.15 billion ($12.64bln/€11.94bln) in April 2022, the latest data from the National Bank of Georgia shows.
The Georgian branch of Russia’s state-owned VTB Bank is leaving the Georgian market, Andrey Kostin, the President and Chairman of the Bank's Management Board, told Russian news agency Interfax.
The National Bank of Georgia has decided to keep the refinancing rate unchanged at 11 percent following a meeting of its Monetary Policy Committee on Wednesday.
Georgia received $306 million from abroad in July 2022, which is 46.8 percent more than the amount in July 2021, says the National Bank of Georgia.
Commercial banks in Georgia loaned ₾42.09 billion ($14.85bln) and received deposits of ₾38.75 billion ($13.67bln) in July 2022, the latest data from the National Bank of Georgia shows.