December 2022: $16.76 bln deposited, $16.94 bln loaned by banks in Georgia

Commercial banks in Georgia loaned ₾44.80 billion ($16.94bln) and received deposits of ₾44.31 billion ($16.76bln) in December 2022, the latest data from the National Bank of Georgia shows.  

The volume of loans increased by 2.66 percent in December compared to the previous month, while the number of deposits increased by 3.96 percent month-on-month.

Last month, the sum of deposits made for a predetermined period of time increased by 0.83 percent, while on-demand deposits, which allow for flexible withdrawals, increased by 5.88 percent, the NBG announced.

Loans taken out in the national currency increased by 2.48 percent, while loans denominated in foreign currency also increased by 2.88 percent.

There are 14 commercial banks in Georgia, including 13 foreign-owned entities, as of the end of December 2022. The total assets of Georgian commercial banks increased by 4.3 percent and constituted ₾ 70.3 billion ($26.58bln).