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Current Tendencies Of Bank Deposits

The total volume of non-bank deposits in the country’s banking sector decreased by 2.4 percent (exchange rate effect excluded volume of deposits increased by 1.6 percent), or by 346.3 million GEL, compared to September 1, 2016 and constituted 14.9 billion GEL by October 1, 2016.

In September, the volume of term deposits increased by 95.4 million GEL (1.2 percent; exchange rate effect excluded volume of term deposits increased by 0.3 percent). Demand deposits increased by 250.9 million GEL (4.0 percent; exchange rate effect excluded volume of demand deposits increased by 3.4 percent).

The larization ratio of total non-bank deposits constituted 30.81 percent by October 1, 2016, increased by 0.02 percentage point exchange rate effect excluded, compared to September 1, 2016. The annual average weighted interest rate on term deposits constituted 4.5 percent.

In particular, the interest rate for national currency denominated deposits was 8.5 percent and the interest rate for foreign currency denominated deposits 3.5 percent. The share of the US dollar in the total volume of foreign currency denominated deposits equals 83.9 percent and the share of the Euro equals 13.1 percent.