The total volume of non-bank deposits in Georgian banking sector in June increased by 1.95% MoM or by 549.44 million lari ($179.3 million), and constituted 28.77 billion lari ($9.3 billion), the National Bank of Georgia (NBG) reported.
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% as of July 1, up by 2.68% MoM.
The market interest rate on term deposits constituted 7.18%. In particular, the market interest rate for national currency denominated deposits was 9.67% and the market interest rate for foreign currency denominated deposits was 2.57%.
The share of the USD in the total volume of foreign currency denominated deposits equals 84.46% and the share of the euro is 14.18%.
As of July 1, the banking sector in Georgia has been represented by 15 commercial banks, including 14 foreign-controlled banks.
In June, 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% of the commercial banks total assets. (AzerNews/Business World Magazine)