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Current Tendencies of Bank Deposits in Georgia

Published: July 30, 2012 | 12:20 pm
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The COMMERCIAL TIMES

Total volume of the non-bank deposits in the country’s banking sector increased by 1.2 percent or 83.2 million GEL compared with the June 1, 2012, and constituted 7.2 billion GEL by July 1, 2012. In June, 2012, compared to the previous month, the volume of demand deposits decreased by 77.2 million GEL (2.3 percent) and term deposits increased by 160.4 million GEL (4.2 percent).

The dollarization ratio of the total non-bank deposits constituted 62.55 percent by July 1, 2012. It increased by 0.32 percentage points compared to June 1, 2012.

The annual average weighted interest rate on term deposits constituted 8.7 percent. In particular, the interest rate for national currency denominated deposits was 11.3 percent and the interest rate for foreign currency denominated deposits 8.0 percent.

The share of US dollar in the total volume of foreign currency denominated deposits equals to 79.4 percent and the share of Euro equals to 18.0 percent.

 

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