Tbilisi (GBC) - Dollarization of private individuals’ deposits are still high. According to the NBG's monthly review, the dollarization ratio of retail deposits portfolio in banks amounts to 64.3%.
According to the NBG's interactive review, the annual growth rate of foreign currency deposits is 1.1%. As of the statistics of the last reporting month of March, the growth rate in GEL, slowed down by 0.8 percentage points.
Only 19% of long-term deposits of individuals (term: from 5 to 10 years) are in the national currency. 5-10 year savings of retail depositors is 51.3 million GEL. The rest >80% are foreign currency deposits. Out of 269 million GEL, the equivalent of 217 million GEL in foreign currency (mainly USD and Euros).
In total, as of Q1/2024, 14.2 billion GEL of retail deposits are placed in the banking sector.
Rating of banks by deposits of individuals (GEL)
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Bank Of Georgia |
12 767 800 000 |
TBC Bank |
9 831 112 000 |
Liberty Bank |
1 791 778 000 |
Basis Bank |
1 100 544 000 |
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Source:NBG