Banking
Posted: 8 months ago

Terabank Boosts Deposit Portfolio to 941 Million GEL

Terabank has witnessed a significant increase in its deposit portfolio. As of the third quarter of 2023, the bank reported deposits totaling 941 million GEL from both individual and corporate clients, ranking it seventh in the overall market and sixth in the retail sector.

Notably, 48% of these deposits, amounting to approximately 448 million GEL, are attributed to individual customers, encompassing current, demand, and term deposits.

Tea Lortkipanidze, the bank's General Director, highlighted Terabank's active presence in the lending market, with a particular emphasis on business financing. This strategic focus has led to the total lending portfolio reaching 1.255 billion GEL, marking a 7.3% quarter-on-quarter increase.

The bank's financial health is further underscored by its robust capitalization. As per the three-quarter report, Terabank's share capital stands at 248 million GEL, while its supervisory capital is 305.4 million GEL.

Significantly, Terabank's major shareholders include Sheikhs from the United Arab Emirates, with Mabarak Al Nahyan holding the largest stake of 65%.