Current Tendencies Of Bank Deposits

Current Tendencies Of Bank Deposits

Current Tendencies Of Bank Deposits

The FINANCIAL -- The total volume of non-bank deposits in the country's banking sector decreased by 0.7 percent (exchange rate effect excluded volume of deposits increased by 2.5 percent), or by 141.5 million GEL, compared to December 1, 2017 and constituted 19.8 billion GEL by January 1, 2018.

In December, the volume of term deposits decreased by 509.5 million GEL (4.3 percent; exchange rate effect excluded volume of term deposits decreased by 0.8 percent). Demand deposits increased by 257.7 million GEL (3.3 percent; exchange rate effect excluded volume of demand deposits increased by 7.4 percent).

The larization ratio of total non-bank deposits constituted 34.44 percent by January 1, 2018 and increased by 0.81 percentage point (exchange rate effect excluded) compared to December 1, 2017, according to NBG.

The annual average weighted interest rate on term deposits constituted 4.4 percent. In particular, the interest rate for national currency denominated deposits was 9.0 percent and the interest rate for foreign currency denominated deposits 2.5 percent.

The share of the US dollar in the total volume of foreign currency denominated deposits equals 84.2 percent and the share of the Euro equals 13.7 percent.