Issue 67: Banking Sector - 2015
Feb, 2016

In December 2015, compared to the same month of the previous year 2014, the volume of total deposits increased by 24.8% (3 080 mln GEL), while the volume of total loans to the national economy increased by 23.5% (3 074 mln GEL). Taking exchange rates into consideration, the growth rate of the deposits is 5.4% and the growth rate of the loans is 5.8%. In this period, the average interest rate on deposits denominated in foreign currency declined by 0.6 percentage point and on deposits denominated in the national currency increased by 1.1% percentage. Regarding loans, interest rates on loans denominated in foreign currencies declined by 1.1 percentage point and on loans denominated in GEL declined by 0.6% point.

The share of the deposits denominated in foreign currencies in total deposits increased by 10.0%, while the share of the loans denominated in the foreign currencies increased by 3.7%. However, taking exchange rates into consideration, the change in these indicators are 4.5 percentage point and -2.2 percentage point, respectively. Therefore, the level of the dollarization of the deposits increased, while the level of dollarization of loans declined.