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 decreased by 3.2 percent (exchange rate effect excluded volume of deposits decreased by 0.8 percent), or by 627.1 million GEL, compared to January 1, 2018 and constituted 19.2 billion GEL by February 1, 2018.

In January, the volume of term deposits increased by 100.9 million GEL (0.9 percent; exchange rate effect excluded volume of term deposits increased by 3.6 percent). Demand deposits decreased by 728.0 million GEL (8.5 percent; exchange rate effect excluded volume of demand deposits decreased by 6.5 percent).

The larization ratio of total non-bank deposits constituted 35.65 percent by February 1, 2018, and increased by 1.21 percentage point (exchange rate effect excluded by 0.35 percentage point) compared to January 1, 2018, according to NBG.

The annual average weighted interest rate on term deposits constituted 5.5 percent. In particular, the interest rate for national currency denominated deposits was 8.2 percent and the interest rate for foreign currency denominated deposits 2.9 percent.

The share of the US dollar in the total volume of foreign currency denominated deposits equals 84.2 percent and the share of the Euro equals 13.6 percent.