Georgia will double the maximum insured deposit limit from GEL 50,000 to GEL 100,000 starting January 1, 2027. The change is expected to increase the volume of insured deposits by approximately GEL 5 billion, according to Levan Todua, head of the Deposit Insurance Agency.
Todua told Business Course that the decision reflects deposit growth, strong bank earnings and the need to strengthen the Deposit Insurance Fund so it can meet its obligations if necessary. The fund’s portfolio currently exceeds GEL 450 million.
Insured deposits currently total GEL 16 billion. Following the increase, the figure is expected to reach approximately GEL 21 billion, covering around 21–22% of all deposits.
The higher coverage limit will also increase banks’ mandatory monthly contributions to the fund to around GEL 10 million. However, Todua said the additional cost should not place a significant burden on the banking sector given its high profitability.
Georgia’s deposit insurance system was launched in January 2018, when the coverage limit was set at GEL 5,000. It was subsequently raised to GEL 15,000 in July 2020, GEL 30,000 in January 2024 and GEL 50,000 in April 2026.
