The National Bank of Georgia published a report about current tendencies of resident commercial banks' deposits as of July 2024.
According to the document, the total volume of non-bank deposits in the country′ s banking sector increased by 1.51% or by 825.97 million GEL (exchange rate effect excluded volume of deposits increased by 2.98%), compared to the end of June 2024 and constituted 55.66 billion GEL by the end of July 2024. In July, the volume of term deposits increased by 213.61 million GEL (by 0.89%; exchange rate effect excluded volume of term deposits increased by 2.21%). Demand deposits increased by 612.36 million GEL (by 1.98%; exchange rate effect excluded volume of demand deposits increased by 3.58%).
The larization ratio of total non-bank deposits constituted 51.50% by the end of July 2024 and increased by 0.56 percentage point (exchange rate effect excluded decreasedby 0.18 percentage point) compared to the end of June 2024.
The market interest rate on term deposits constituted 6.96%. In particular, the market interest rate for national currency denominated deposits was 9.13% and the market interest rate for foreign currency denominated deposits was 2.33%.
The share of the US dollar in the total volume of foreign currency denominated deposits equals 77.90% and the share of the Euro equals 20.27%.
