The National Bank of Georgia (NBG) published a report on the current tendencies of resident commercial banks' deposits as of February 2024. According to the document, the total volume of non-bank deposits in the country′ s banking sector decreased by 0.36% or by 182.62 million GEL (exchange rate effect excluded volume of deposits increased by 0.08%), compared to the end of January 2024 and constituted 50.50 billion GEL by the end of February 2024.
In February, the volume of term deposits decreased by 203.80 million GEL (by 0.96%; exchange rate effect excluded volume of term deposits decreased by 0.57%). Demand deposits increased by 21.18 million GEL (by 0.07%; exchange rate effect excluded volume of demand deposits increased by 0.56%).
The larization ratio of total non-bank deposits constituted 50.16% by the end of February 2024 and decreased by 0.07 percentage point (exchange rate effect excluded by 0.29 percentage point) compared to the end of January 2024.
The market interest rate on term deposits constituted 7.51%. In particular, the market interest rate for national currency denominated deposits was 10.08% and the market interest rate for foreign currency denominated deposits was 1.99%.
The share of the US dollar in the total volume of foreign currency denominated deposits equals 78.58% and the share of the Euro equals 19.86%.
