In Sep-21, the banking sector loan portfolio growth came in at 15.8% y/y (+2.5% m/m), excluding FX effect, after a 15.3% y/y growth in previous month. In unadjusted terms, loan portfolio was up 12.7% y/y (+2.3% m/m), amounting to GEL 41.0bn (US$ 13.1bn),- show the data from the report of TBC Capital.
By sector, corporate loan growth accelerated further to 16.9% y/y (exc. FX effect) in September, from a 15.6% y/y growth in previous month, while retail loan growth remained almost unchanged at 14.8% y/y. In Sep-21, loan dollarization reduced further to 51.4% (-5.54ppts y/y and -0.29ppts m/m) and NPLs stood at 2.2% (-0.12ppts y/y and -0.05ppts m/m).
Bank deposits grew by 12.7% y/y (+1.3% m/m, exc. FX effect) to GEL 35.9bn (US$ 11.5bn) in Sep-21, with GEL deposits up 11.6% y/y and FX deposits up 13.3% y/y (exc. FX effect). The deposit dollarization stood at 60.7% (-0.86ppts y/y and +0.63ppts m/m).
