25.Jun .2020 19:50

Deposits in the banking sector increased by 2.62% in May

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According to a report published by the National Bank of Georgia, the volume of deposits in Georgian banking sector has increased over the past month.

The deposit portfolio for June 1 amounted to 28.22 billion GEL, which was 636.68 million GEL or 2.31% more comparing to May 1 (more by 2.62% without the effect of the exchange rate).

In May, term-deposits increased by 490.18 million GEL, or 3.92% in May comparing to the previous month, while the volume of demand deposits increased by 146.50 million GEL, or 0.97%.

Larization rate of the deposits has made up 35.92 percent as of June 1. Compared to the situation on May 1, the larization of deposits increased by 1.57 percentage points (excluding the exchange rate effect, increased by 1.46 percentage points).

In May, the average weighted annual market interest rate on overdue deposits has made up 7.02%, including 9.53% on deposits placed in national currency and 2.93% on foreign currency deposits.

The share of deposits in the US dollar has totaled to 84.34%, while the share of the deposits placed in EUR has totaled to 14.33%, "- the report published by the National Bank reads.