Current Tendencies of Bank Deposits

Total volume of deposits in the country’s banking sector (including term deposits and current accounts of non-financial and households sectors, including payable interest) increased by 0.5 percent or 21.7 million GEL compared with the previous month and reached 4.6 billion GEL by November 1, 2010. In October, compared to the previous month, the volume of transferable deposits of non-financial and households’ sectors decreased by 6.9 million GEL (0.4 percent), mainly due to appreciation of national currency, and term deposits of same sectors increased by 27.0 million GEL or 1.0 percent.

In October, the dollarization ratio of deposits constituted 73.6 percent. Compared with the previous month it decreased by 1.0 percentage points.

The annual average weighted interest rate for all deposits constituted 7.9 percent. In particular, the interest rate for national currency denominated deposits was 10.3 percent and the interest rate for foreign currency denominated deposits 7.3 percent.

The share of US dollar in the total volume of foreign currency denominated deposits equals to 68.2 percent and the share of Euro equals to 19.5 percent.

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