The National Bank of Georgia published a report about current tendencies of resident commercial banks' deposits as of August 2023.
The total volume of non-bank deposits in the country′ s banking sector increased by 0.58% or by GEL 277 million (exchange rate effect excluded volume of deposits increased by 0.97%), compared to the end of July 2023 and constituted GEL 48 billion by the end of August 2023.
The larization ratio of total non-bank deposits constituted 50.27% by the end of August 2023 and increased by 0.9 percentage point (exchange rate effect excluded by 0.72 percentage point) compared to the end of July 2023.
"In August, the volume of term deposits increased by 934.94 million GEL (by 5.11%; exchange rate effect excluded volume of term deposits increased by 5.41%). Demand deposits decreased by 657.98 million GEL (by 2.23%; exchange rate effect excluded volume of demand deposits decreased by 1.79%).
The market interest rate on term deposits constituted 8.91%. In particular, the market interest rate for national currency denominated deposits was 10.52% and the market interest rate for foreign currency denominated deposits was 1.55%.
The share of the US dollar in the total volume of foreign currency denominated deposits equals 78.31% and the share of the Euro equals 19.78%", - the document reads.
