The total volume of non-bank deposits in the country′s banking sector increased by 2.88% or by 1.31 billion GEL (exchange rate effect excluded volume of deposits increased by 2.18%), compared to the end of May 2023 and constituted 46.79 billion GEL by the end of June 2023, National Bank of Georgia (NBG) reported on Tuesday.

In June, the volume of term deposits decreased by 1.50 million GEL (by 0.01%; exchange rate effect excluded volume of term deposits decreased by 0.53%). Demand deposits increased by 1.31 billion GEL (by 4.74%; exchange rate effect excluded volume of demand deposits increased by 3.93%).

“The larization ratio of total non-bank deposits constituted 49.23% by the end of June 2023 and decreased by 0.28 percentage point (exchange rate effect excluded increased by 0.05 percentage point) compared to the end of May 2023.

The market interest rate on term deposits constituted 8.45%. In particular, the market interest rate for national currency-denominated deposits was 10.91% and the market interest rate for foreign currency-denominated deposits was 1.47%.

The share of the US dollar in the total volume of foreign currency-denominated deposits equals 78.36% and the share of the Euro equals 19.17%,” reads the press statement.