NBG: ₾37.1 bln deposited, ₾43.3 bln loaned by banks in March 2022

Georgia: According to the latest data from the National Bank of Georgia (NBG), commercial banks in Georgia borrowed GEL 43.32 billion ($14 billion/€13 billion) and received deposits of GEL 37.10 billion ($12 billion/€11 billion) in March 2022.

The number of loans grew by GEL 67.52 million ($22mln/€21mln), or by 0.16 per cent, in March compared to the last month, while the volume of deposits fell by GEL 531.63 million ($175mln/€164mln), or 1.41 per cent, month-on-month.

According to the NBG, the total amount of deposits made for a set period of time declined by 1.02 billion in March 2022, while on-demand deposits, which allow for flexible withdrawals, climbed by 488.62 million.

Loans in the national currency were inclined by GEL 281.95 million, while loans denominated in foreign currency declined by GEL 214.43 million.

According to the Central Bank’s data, the total volume of national currency-denominated loans provided by commercial banks to resident legal entities climbed by 0.24 per cent in March compared to the previous month, reaching GEL 6.58 billion. The total amount of foreign currency-denominated loans fell by 0.81 per cent to GEL 13.70 billion.

As of March 31, 2022, Georgia has 14 commercial banks, including 13 foreign-owned entities.

Georgian commercial banks’ total assets (in current prices) grew by GEL 98.04 million (0.2%) in March compared to the previous month, totalling GEL 61.79 billion.

The NBG reported that the banking sector’s equity capital equals ₾8.13 billion, which makes up 13.2 per cent of the commercial banks’ total assets.