Current State of Deposits

Current State of Deposits

30 March, 2009

Non-bank deposits (current accounts and term deposits) in the country's banking sector constituted 3.0 billion GEL by March 1, 2009, which is 1.3 percent higher than the comparable figure for the same period of 2008. Foreign currency denominated deposits grew by 19.1 percent, while the volume of national currency denominated deposits decreased by 32.6 percent.

The dollarization coefficient of deposits amounted to 77.0 percent by March 1, 2009.

During the past year the interest rate for national currency denominated deposits was higher than for foreign currency denominated deposits. While the average weighted interest rate for the mentioned period for all deposits was 9.5 percent, the interest rate for national currency denominated deposits was 11.3 percent and the interest rate for foreign currency denominated deposits was 8.8 percent.

By March 1, 2009 within the foreign currency denominated deposits, the share of US dollar equaled to 75.9 percent and the share of Euro equaled to 23.6 percent.

Current statistical information is published on the statistics page of the NBG's website.