The National Bank of Georgia (NBG) published a report about current tendencies of resident commercial banks' deposit portfolio as of May 2024.
According to the document, the total volume of non-bank deposits in the country′ s banking sector increased by 1.21% or by 635.30 million GEL (exchange rate effect excluded volume of deposits decreased by 0.93%), compared to the end of April 2024 and constituted 52.98 billion GEL by the end of May 2024. In May, the volume of term deposits increased by 92.34 million GEL (by 0.40%; exchange rate effect excluded volume of term deposits decreased by 1.45%). Demand deposits increased by 542.96 million GEL (by 1.85%; exchange rate effect excluded volume of demand deposits decreased by 0.53%).
The larization ratio of total non-bank deposits constituted 50.21% by the end of May 2024 and decreased by 1.54 percentage point (exchange rate effect excluded by 0.45 percentage point) compared to the end of April 2024.
The market interest rate on term deposits constituted 7.39%. In particular, the market interest rate for national currency denominated deposits was 9.03% and the market interest rate for foreign currency denominated deposits was 1.78%.
The share of the US dollar in the total volume of foreign currency denominated deposits equals 77.91% and the share of the Euro equals 20.42%.
