The bank sector has reduced gross expenditures, but deposit expenses have increased anyway.
In January commercial banks’ gross expenditures marked 229.3million GEL (284.6 million GEL as of 01.2015). The declination is recorded in the year on year context: -19.4%. The revenues have declined by 15.7% year on year.
At the same time, depositors have started receiving higher yields. Namely, in January deposit expenditures marked 53 million GEL, up 10.3 million GEL (+24%) year on year (42.7million GEL 01/2015) in January 2015.
61% of deposits portfolio (8.8 billion GEL) are placed at 2 commercial banks (Bank of Georgia, TBC Bank).
As to the retail deposits, total portfolio of two commercial banks marked 68% (5.151 billion GEL).