August 2022: $14.78 bln deposited, $15.30 bln loaned by banks in Georgia
The volume of loans increased by 2.68 percent in August compared to the previous month, while the number of deposits increased by 7.74 percent month-on-month. Photo: Nino Alavidze/Agenda.ge
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Commercial banks in Georgia loaned ₾43.21 billion ($15.30bln) and received deposits of ₾41.76 billion ($14.78 bln) in August 2022, the latest data from the National Bank of Georgia shows.
The volume of loans increased by 2.68 percent in August compared to the previous month, while the number of deposits increased by 7.74 percent month-on-month.
Last month, the sum of deposits made for a predetermined period of time increased by 4.99 percent, while on-demand deposits, which allow for flexible withdrawals, increased by 9.58 percent, the NBG announced.
Loans taken out in the national currency increased by 1.86 percent, while loans denominated in foreign currency increased by 3.64 percent.
There are 14 commercial banks in Georgia, including 13 foreign-owned entities, as of the end of August 2022.
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).
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.
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.
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.
Georgian economy minister Levan Davitashvili on Thursday said Georgia was expected to have a higher economic growth this year compared to estimations made by international financial institutions at the start of the crisis stemming from the war in Ukraine.
Georgia received $387.2 million from abroad in September 2022, which is 84.6% more than the amount in September 2021, the national bank of Georgia said on Monday.
Commercial banks in Georgia loaned ₾42.94 billion ($15.62bln) and received deposits of ₾42.04 billion ($15.29 bln) in September 2022, the latest data from the National Bank of Georgia shows.