The National Bank of Georgia published a report on the current tendencies of resident commercial banks' deposits as of March 2024. According to the document, he total volume of non-bank deposits in the country′ s banking sector increased by 2.60% or by 1.31 billion GEL (exchange rate effect excluded volume of deposits increased by 1.98%), compared to the end of February 2024 and constituted 51.81 billion GEL by the end of March 2024. In March, the volume of term deposits increased by 706.91 million GEL (by 3.35%; exchange rate effect excluded volume of term deposits increased by 2.78%). Demand deposits increased by 607.05 million GEL (by 2.07%; exchange rate effect excluded volume of demand deposits increased by 1.41%).
The larization ratio of total non-bank deposits constituted 50.33% by the end of March 2024 and increased by 0.17 percentage point (exchange rate effect excluded by 0.48 percentage point) compared to the end of February 2024.
The market interest rate on term deposits constituted 7.25%. In particular, the market interest rate for national currency denominated deposits was 9.56% and the market interest rate for foreign currency denominated deposits was 1.97%.
The share of the US dollar in the total volume of foreign currency denominated deposits equals 78.67% and the share of the Euro equals 19.60%.
