According to the National Bank, nonbank deposits volume in the banking sector hit 19bln GEL as of November 1, 2017, up 645.2mln GEL (+3.5%) as compared to the October 1 indicator (up 0.6% without the exchange rate effect).
In October, as compared to the previous month, term deposits grew by 357.7mln GEL (+3.3%). Without the exchange rate effect this indicator rose by 0.2%, while demand deposits rose by 287.5mln GEL (+3.8%). The indicator increased by 1.2% without the exchange rate effect.
As of November 1, 2017 the deposits Larization coefficient constituted 33.61%. As a result, the deposits larization has shrunk by 0.06% as compared to October 1, excluding the exchange rate effect.
The average weighed interest rate on term deposits marked 5.1%, including 8.4% on GEL-denominated deposits and 2.9% on foreign currency denominated deposits.
Ratio of USD in foreign currency denominated deposits accounts for 84.6%, while the ratio of EUR is 13.2%.