From today, the amount of money that all depositors in the country will be insured by the Deposit Insurance Agency will increase to 15,000 GEL. Until now, the limit was only 5,000 GEL.
If the bank in which the citizens have saved money suddenly finds itself in a crisis and fails to meet its obligations, the State Agency will reimburse depositors up to 15,000 GEL.
The Deposit Insurance System was launched in January 2018 and includes all commercial banks. In this system, banks pay premiums to the agency for insurance, which is equal to 0.067% of GEL deposits and 0.1% of foreign currency deposits.
Banks pay insurance premiums every month. According to the agency, the amount transferred in June amounted to 1,559,925 GEL. In total, the insurance premium received by the agency from the banks is 40 million GEL.
Deposit of GEL 29.1 billion is placed in the banking sector in total. Including, deposits of individuals are 54%. However, 2 billion portfolios are insured by the Deposit Agency, which is a deposit of up to 5,000 GEL. From July 1, along with the increase of the limit to 15,000 GEL, the volume of the insured portfolio will also increase.
