News Column

NBG-Current Tendencies of Bank Deposits

February 26, 2014

ENP Newswire - 26 February 2014

Release date- 25022014 - The total volume of non-bank deposits in the country's banking sector decreased by 2.4 percent, or 232.6 million GEL, compared with January 1, 2014, and constituted 9.4 billion GEL by February 1, 2014.

In January 2014, the volume of demand deposits decreased by 368.1 million GEL (8.2 percent) and term deposits increased by 135.5 million GEL (2.6 percent) compared to the previous month.

The dollarization ratio of total non-bank deposits constituted 62.31 percent by February 1, 2014; increasing by 2.46 percentage points compared to January 1, 2014.

The annual average weighted interest rate on term deposits constituted 6.2 percent. In particular, the interest rate for national currency denominated deposits was 8.8 percent and the interest rate for foreign currency denominated deposits 5.3 percent.

The share of the US dollar in the total volume of foreign currency denominated deposits equals 80.1 percent and the share of the euro equals 17.0 percent.

Current statistical information is published on the NBG's website:

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Source: ENP Newswire

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