The National Bank of Georgia published a report about the current tendencies of resident commercial banks' deposit portfolio as of October 2024.
According to the document, the total volume of non-bank deposits in the country’s banking sector decreased by 0.21% or by 121.77million GEL (exchange rate effect excluded volume of deposits decreased by 0.19%), compared to the end of September 2024 and constituted 57.53 billion GEL by the end of October 2024. In October, the volume of term deposits increased by 197.32 million GEL (by 0.77%; exchange rate effect excluded volume of term deposits increased by 0.68%). Demand deposits decreased by 319.09 million GEL (by 1.00%; exchange rate effect excluded volume of demand deposits increased by 0.89%).
The larization ratio of total non-bank deposits constituted 49.30% by the end of October 2024 and decreased by 1.91 percentage points (exchange rate effect excluded, decreased by 1.92 percentage points) compared to the end of September 2024.
The market interest rate on term deposits constituted 6.90%. In particular, the market interest rate for the national currency-denominated deposits was 9.06% and the market interest rate for foreign exchange currency-denominated deposits was 2.59%.
The share of USD in the total volume of foreign currency-denominated deposits equals 78.32% and the share of the EUR equals to 20.6%.
