BAKU, Azerbaijan, June 29
By Tamilla Mammadova – Trend:
External liabilities of the National Bank of Georgia decreased by $5.7 million in the first quarter of 2020 year-on-year, out of which, exchange rate changes led to decrease of debt by $5.9 million, while transactions led to increase by $162,000, Trend reports referring to National Bank of Georgia (NBG).
By the end of the first quarter of 2020, the external debt of the National Bank of Georgia amounted to $443.9 million, of which $196.6 million are Special Drawing Rights (SDR) which have no maturity date; therefore, there is no obligation to repay them as long as Georgia is a member of the International Monetary Fund (IMF).
As of June 1, 2020, the banking sector in Georgia was represented by 15 commercial banks, including 14 foreign-controlled banks.
In May 2020, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by 331.16 million lari ($108.8 million) or by 0.67 percent compared to April 2020 and constituted 49.45 billion lari ($16.2 billion).
The banking sector’s equity capital equals 5.13 billion lari ($1.6 billion), which makes up 10.37 percent of the commercial banks total assets.
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