Commercial banks in Georgia loaned GEL 43.24 billion ($15.87 billion) and received deposits of GEL 42.31 billion ($15.53 billion) in October, the latest data from the National Bank of Georgia showed.
The volume of loans increased by 0.04% MoM in October, while the number of deposits increased by 0.58%.
Last month, the sum of deposits made for a predetermined period of time decreased by 1.47%, while on-demand deposits, which allowed for flexible withdrawals, increased by 1.9%, the NBG announced.
Loans taken out in the national currency increased by 1.11%, while loans denominated in foreign currency decreased by 1.24%.
There were 14 commercial banks in Georgia, including 13 foreign-owned entities, as of the end of October. The total assets of Georgian commercial banks decreased by 1.3% and constituted GEL 67.2 billion ($24.66 billion). (Agenda/Business World Magazine)
