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Total Volume of the Non-Bank Deposits in Georgia Made GEL 6.8 Billion

Published: May 1, 2012 | 10:37 am
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The COMMERCIAL TIMES

Total volume of the non-bank deposits in the country’s banking sector decreased by 0.8 percent or GEL 52.5 million compared with the March 1, 2012, and constituted GEL 6.8 billion by April 1, 2012. In March, 2012, compared to the previous month, the volume of demand deposits decreased by GEL 146.1 million (4.4 percent) and term deposits increased by GEL 93.6 million (2.7 percent).

The dollarization ratio of the total non-bank deposits constituted 60.7 percent by April 1, 2012. It increased by 1.9 percentage points compared to March 1, 2012.

The annual average weighted interest rate on term deposits constituted 9.7 percent. In particular, the interest rate for national currency denominated deposits was 11.5 percent and the interest rate for foreign currency denominated deposits 9.3 percent.

The share of US dollar in the total volume of foreign currency denominated deposits equals to 75.4 percent and the share of Euro equals to 19.9 percent.

 

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