Non-bank deposits in Georgian banking sector increase

By Trend

The total volume of non-bank deposits in Georgian banking sector in May 2020 increased by 1.95 percent or by 549.44 million lari ($179.3 million), compared to June, 2020 and constituted 28.77 billion lari ($9.3 billion) by July 1, 2020, Trend reports via National Bank of Georgia (NBG).

In June, the volume of term deposits increased by 291.09 million lari ($95.02 million) compared to May. Demand deposits increased by 258.35 million lari ($84.3 million).

The larization ratio of total non-bank deposits constituted 38.59 percent by July 1, 2020 and increased by 2.68 percentage point compared to June 1, 2020.

The market interest rate on term deposits constituted 7.18 percent. In particular, the market interest rate for national currency denominated deposits was 9.67 percent and the market interest rate for foreign currency denominated deposits was 2.57 percent.

The share of the USD in the total volume of foreign currency denominated deposits equals 84.46 percent and the share of the euro equals 14.18 percent.

As of July 1 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 - foreign-controlled banks.

In June 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) decreased by 172.84 million lari ($56.4 million) and constituted 49.28 billion lari ($16.08 billion).

The banking sector's equity capital is 5.20 billion lari ($1.6 billion), which makes up 10.56 percent of the commercial banks total assets.