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%)

Banking Sector Profits in August Rose by 125% Year on Year

In August 2019 net profits of commercial banks made up 110.106 million GEL, up 27.434 million GEL month on month and up 61.178 million GEL year on year (+125%).

Bank of Georgia Gets an STP Award from Commerzbank

Commerzbank granted Bank of Georgia with STP (Straight Through Processing) award.

NBG’s ahead of Schedule move is likely to make the GEL Appreciation a One-way Bet

The NBG announced last Friday it will hold an extraordinary meeting of the Monetary Policy Committee on 25th of Septembe

Banking Sector’s Profits Rose by 8% to 553.5 million GEL in January-August Period

Profits of Georgia-based commercial banks in January-August 2019 made up 553.5 million GEL, up 8% compared to the same period of 2018.

Remittances Continued to Increase in August Driven by the EU

Remittance inflows increased by 7.8% YoY in August 2019 in USD terms, somewhat improved growth compared to previous two months.

Silk Road Bank Grows Assets

Silk Road Bank finished the month of August in losses. The January-August losses made up 388 400 GEL, whilst the bank has increased assets to 87 million GEL. 

Volume of Properties Seized by Commercial Banks Decline

The value of properties seized by commercial banks made up 177.9 million GEL in July 2019, the Finance Sector Report by the National Bank of Georgia (NBG) reads.

Money Transfers Rise by 7.8% - Countries with Major Contributions

According to the National Bank of Georgia (NBG), money transfers to Georgia in August 2019 made up 146.4 million USD (428.5 million GEL), up 7.8% (+10.7 million USD), compared to the same period of 2018.