BAKU, Azerbaijan, Aug. 26
By Klavdiya Romakayeva - Trend:
The volume of deposits placed in Georgian banks in July increased by 14 percent and amounted to 35.9 billion lari ($11 billion), Trend reports citing Georgian media.
At the same time, interest on deposits in national currency is on average 11 times higher than in foreign currency, nevertheless, 60 percent of deposits are in dollars.
It is reported that the average deposit larization rate is 40 percent, but even then due to large corporate depositors and the state - in the segment of individuals, lari accounts for only 20 percent of deposits.
It was noted that The high level of dollarization is associated solely with the lack of confidence in the national currency, since on average interest on deposits in lari is 10 percent, in dollars - less than one percent. Deposits in euros are generally devoid of interest.
Earlier it was reported that the net profit of the Georgian banks decreased by $37.3 million in July 2021 compared to June 2021 and amounted to $177.9 million,
According to the National Bank of Georgia, in June bank profits stood at 294 million lari ($56.9 million) and in 7M2021, the profit of the banking system amounted to 1.2 billion lari ($384.3 million).
By months bank profits are as follows: in January - 113.3 million lari ($36.2 million), in February - 132.1 million lari ($42.3 million), in March - 166.3 million lari ($53.2 million), in April- 173 million lari ($55.4 million), in May - 180.1 million lari ($57.6 million), in June - 294.6 million lari ($94.6 million), in July – 177.9 million lari ($56.9 million).
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