Tbilisi (GBC) – The National Bank of Georgia’s interactive statistics show that the current accounts of non-residents are 2.34 billion GEL as of September, and 92.5% of them are equivalent to 2.16 billion GEL in foreign currency.
Non-resident clients of banks withdrew up to 3 billion GEL from their accounts, mostly in USD. The equivalent of 284 million GEL comes from the withdrawals of Euros.
However, according to analysts, this does not mean releasing the entire resource into circulation. Citizens of foreign countries may withdraw part of it. And part of it was transferred to a term deposit account or another instrument.
As of 01.09.2024, the total amount on the accounts of citizens of other countries, including term and demand deposit accounts, is up to 10.3 billion GEL. Out of this, up to 2.3 billion is in GEL. 5.8 billion GEL (equivalent in USD) and 2.03 billion GEL (in Euros). 17.5 million GEL is denominated in Swiss Francs, and 25 million GEL in Russian Rubles (of which, 24.8 million GEL is in the accounts)
As of 01.08.2024, the equivalent of 34 million GEL was recorded in the accounts in Russian rubles. The most amount of rubles - 48.5 million GEL was deposited in the current, demand and term accounts in Georgian banks as of 01.08.2023.
It is announced that the share of CIS citizens has decreased. The liquidity requirement for banks has also been eased, to the old level of 40%.
Increased deposits of Russian citizens in the banking sector of Georgia became the basis for tightening the liquidity requirement for banks from 40% to 80%, as a sign of instability. Such inflows are unstable, and it is inappropriate to refer to the lending of resources attracted through the mentioned channel.
Up to 35% of Belarusians, 28% of Russians and 30%-32% of Ukrainians have been in Georgia for more than 1 year. According to the IMF standard, the resident status is suitable.