25.Oct .2021 16:30

Assets of Georgian Banks Increased to 58.6 Billion in September, Which Is 100% of GDP

Assets of Georgian Banks Increased to 58.6 Billion in September, Which Is 100% of GDP
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As of October 1, 2021, the total assets of 15 commercial banks operating in Georgia amounted to GEL 58.57 billion. According to the National Bank, in September, compared to the previous month, banks' assets increased by 1.09 billion GEL (or by 1.89%).
 
For comparison, GEL 58.57 billion is 100.2% of the projected GDP of 2021(or GEL 58.42 billion) therefore, this year the assets of banks will exceed the GDP of Georgia.
 
The increase in assets was due to the increase in the volume of loans and deposits. In particular, in September, the volume of bank loans increased by 931 million GEL and amounted to 41 billion GEL, while the volume of deposits increased by 457 million GEL to 35.86 billion GEL.

"The share capital of the banking sector is GEL 7.28 billion, which is 12.43 percent of the total assets of commercial banks," the National Bank said in a report.