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Bank Sector’s Deposits Declined by 471 million GEL in March

Deposits portfolio has shrunk in Georgian bank sector.

According to National Bank of Georgia (NBG), retail and corporate deposits portfolio in the bank sector made up 16.1 billion GEL as of April 1 (current, demand and term deposits). The portfolio declined by 471 million GEL in March.

In the reporting period, term deposits declined by 315 million GEL, while demand deposits have shrunk by 156 million GEL.

Deposits larization has increased, coefficient is 30.81% (29.56% as of March 1, 2017).

Yield on GEL-denominated term deposits has shrunk by 8.5%, while yield on USD-denominated terms deposits has declined by 2.8% (8.8% and 3% as of March 1, 2017).