The National Bank of Georgia released a report on the current trends in the deposit portfolios of resident commercial banks as of October 2024.

According to the report, the total volume of non-bank deposits in the country’s banking sector decreased by 0.21%, or 121.77 million GEL (excluding the exchange rate effect, the volume of deposits fell by 0.19%), reaching 57.53 billion GEL by the end of October 2024. In October, the volume of term deposits increased by 197.32 million GEL (a 0.77% rise; excluding the exchange rate effect, term deposits grew by 0.68%). Conversely, demand deposits declined by 319.09 million GEL (a 1.00% drop; excluding the exchange rate effect, demand deposits rose by 0.89%).

The larization ratio of total non-bank deposits stood at 49.30% at the end of October 2024, a decrease of 1.91 percentage points (or 1.92 percentage points excluding the exchange rate effect) compared to the end of September 2024.

The market interest rate on term deposits was 6.90%, with the national currency-denominated deposits yielding an interest rate of 9.06%, while foreign currency-denominated deposits had a rate of 2.59%.

The share of USD in the total volume of foreign currency-denominated deposits was 78.32%, and the share of EUR was 20.6%.