Banking
Posted: 3 weeks ago

Deposits at Commercial Banks Grow to 25.3 Billion GEL, Larization Hits 36%

According to the National Bank of Georgia (NBG), volume of nonbank deposits in the banking sector made up 25 340 000 000 GEL as of September 1, 2019, up 344 900 000 GEL (+1.38%), compared to August 1, 2019 (without exchange rate effect, up 1.58%).

According to the NBG information, in August, compared to the previous month, term deposits rose by 1.36% (up 142 500 000 GEL), whilst demand deposits rose by 202 400 000 GEL, up 1.39% (up 1.60%, without exchange rate effect).
 
The deposits Larization coefficient made up 36.42% as of September 1, 2019. Deposits Larization declined by 0.30% as compared to August 1, 2019 (down 0.37% without exchange rate effect).
 
The average annual weighed market exchange rate on term deposits made up 5.25%, including 7.45% on GEL-denominated deposits and 2.89% on foreign currency denominated deposits.
 
The ratio of USD-denominated deposits in all foreign currency denominated deposits made up 84.91% and the EUR-denominated deposits’ ratio made up 13.51%.