January 2022: 36.77 bln GEL deposited, 42.16 bln GEL loaned
In January 2022, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 547.06 million GEL (0.9 percent) and constituted 60.02 billion GEL. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
Commercial banks in Georgia loaned 42.16 billion GEL and received deposits of 36.77 billion GEL in January 2022, the National Bank of Georgia (NBG) says.
The volume of loans has decreased by 924.29 million GEL (2.15 percent) in January compared to the previous month. The number of deposits also decreased by 465.98 million GEL (1.25 percent) month-on-month.
In January 2022, the sum of term deposits (deposits made for a predetermined period of time) increased by 543.92 million GEL while demand deposits, which allow for flexible withdrawal, decreased by 1.01 billion GEL.
Loans taken out in Georgian lari decreased by 185.18 million GEL and loans denominated in foreign currencies also decreased by 739.11 million GEL month-on-month.
By the end of January 2022, the total volume of national currency denominated loans to resident legal entities issued by commercial banks amounted to 6.67 billion GEL and foreign currency denominated loans constituted 13.18 billion GEL,” the NBG says.
There are 14 commercial banks in Georgia, including 13 foreign-owned banks as of January 31, 2022.
In January 2022, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 547.06 million GEL (0.9 percent) and constituted 60.02 billion GEL.
The banking sector's equity capital equals 7.91 billion GEL, which makes up 13.17 percent of the commercial banks' total assets, the NBG reports.
The unemployment rate in Georgia has decreased by 1.4 percent in the fourth quarter of 2021 compared to the same period of last year, amounting to 19 percent, the National Statistics Office of Georgia (Geostat) announced.
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.
Fitch Ratings, a global financial ratings firm, has affirmed Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) status with a BB rating, also calling the country’s financial developments “broadly stable”.
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 estimated real Gross Domestic Product (GDP) of Georgia increased by 18 percent in January 2022 year-on-year, the latest data from the National Statistics Office of Georgia (Geostat) shows.
The Consumer Price Index in Georgia increased by 0.9 percent in February 2022 month-on-month, while the annual inflation rate totalled 13.7 percent, the latest inflation data of the National Statistics Office of Georgia (Geostat) shows.
Georgian Liberty Bank will take over some of the loans and deposits of sanctioned JSC VTB Bank Georgia, a part of the Russian VTB Bank Group, as a result of the agreement reached between the two banks, the National Bank of Georgia (NBG) announced on Thursday.
Macroeconomic parameters in Georgia are “very healthy and stable” and depreciation of the Georgian lari exchange rate is mainly caused by “emotional factors,” Georgian Economy Minister Levan Davitashvili said on Tuesday.
Remittances to Georgia from abroad reached $183.4 million in February 2022, marking a 13.7 percent increase compared to the same month of last year, the National Bank of Georgia (NBG) announced on Tuesday.