According to the financial indicators submitted by commercial banks to the National Bank, the average interest rate on loans in the Georgian banking system has decreased. At the same time, the interest rate on deposits is reduced, which is caused by the decline in interest rates on foreign currency deposits.
As of March 2021, the market interest rate on loans was 12.2%, which is 0.2 percentage points lower than in the previous month.
The change in interest rates according to certain categories is as follows:
The average market rate for GEL loans to legal entities - 15.2%, an increase of 0.2 percentage points compared to the previous month;
The average market rate of GEL loans to individuals - 17.9%, decrease by 0.1 percentage points compared to the previous month;
The average market rate of foreign currency loans to legal entities - 6.7%, change 0.
The average market rate of foreign currency loans to individuals - 6.1%, a decrease of 0.1 percentage points compared to the previous month.
As for the average interest rate on deposits, it decreased by 0.9 percentage points in March compared to the previous month and amounted to 5.6%, which is mainly related to the decrease in the interest rate on foreign currency deposits.
By individual categories, the change in deposit rates is as follows:
The average market interest rate on GEL deposits of legal entities - 8.2%, an increase of 0.1 percentage points compared to the previous month;
The average market interest rate on GEL deposits of individuals - 17.9%, an increase of 0.9 percentage points compared to the previous month;
The average market interest rate on foreign currency deposits of legal entities - 2.3%, decrease by 0.3 percentage points;
