Current Tendencies Of Bank Deposits

Current Tendencies Of Bank Deposits

Current Tendencies Of Bank Deposits

The FINANCIAL -- The total volume of non-bank deposits in the country's banking sector increased by 6.3 percent (exchange rate effect excluded volume of deposits increased by 0.3 percent), or by 849.5 million GEL, compared to June 1, 2016 and constituted 14.3 billion GEL by July 1, 2016. In June, the volume of term deposits increased by 475.9 million GEL (6.3 percent; exchange rate effect excluded volume of term deposits decreased by 0.6 percent). Demand deposits increased by 373.6 million GEL (6.2 percent; exchange rate effect excluded volume of demand deposits increased by 1.5 percent).

The larization ratio of total non-bank deposits constituted 32.75 percent by July 1, 2016; It decreased by 0.32 percentage point (or increased by 1.63 percentage point exchange rate effect excluded) compared to June 1, 2016, according to the National Bank of Georgia.

The annual average weighted interest rate on term deposits constituted 4.8 percent. In particular, the interest rate for national currency denominated deposits was 8.4 percent and the interest rate for foreign currency denominated deposits 3.3 percent.

The share of the US dollar in the total volume of foreign currency denominated deposits equals 82.6 percent and the share of the Euro equals 14.6 percent.