Georgian Banks Keep Growing
06 September, 2012
Georgian Banks Keep Growing

Total assets of Georgian commercial banks  increased by GEL 1billion in a month, the loan and deposit portfolios increased by GEL 124.4 million and GEL 643.2 million respectively. 

As of August 1, 2012, the banking sector in Georgia is represented by 19 commercial banks, including 15 foreign-controlled banks and three branches of non-resident banks. Compared with the previous month, total assets of Georgian commercial banks (in current prices) increased by GEL1 billion (by 7.8%) and constituted GEL 14.1 billion, National Bank

of Georgia, informed on August 30.2012.

The banking sector's own funds (equity capital) equal to GEL 2.3 billion which makes up 16.5% percent of commercial banks' total assets. The share of foreign capital in banks' total paid-in capital constituted 75.8%.

Georgian banking sector finished July of 2012 with the net profit of GEL 14.2 million.  The share of five banks having the largest assets within the total amount of the banking sector still makes a lion’s share by 82.9% of total assets of the sector.

The volume of lending by commercial banks (including loans to non-residents) increased by GEL 124.4 million (1.5%) in July and exceeded GEL 8.4 billion by August 1, 2012. The volume of loans in the national and foreign currency increased by GEL 31.6 million (1.2%) and GEL 92.7 million (1.6%) respectively.

Loans to legal entities decreased by 1.2% in local currency and increased with the similar rate of 1.2% in foreign currencies: GEL 952.9 million worth of national currency-denominated loans were issued that lags by GEL 11.2 million behind the previous month data; and GEL 3.7 billion worth of loans were issued in a foreign currency (by GEL 44.6 million more respectively).

78.2% percent of the total volume of lending to the legal entities falls only on three sectors - industry, construction and trade. The biggest share traditionally falls on trade - 46.6%. Compared with the previous month, in July the volume of loans provided for trade increased by 0.4% that translates into GEL 8.7 million and constituted GEL 2.2 billion.

Industry is the runner up in the loan portfolio. Share of loans provided to the industrial sector constituted 22.3% of all loans to legal entities and amounted to GEL 1049.7 million by August 1, 2012 (3.1% or GEL 31.5 million  more compared to the previous month). 9.3% fall on construction, covering GEL 439.4 million (5.3% or 24.7 million less).

The volume of lending to resident individuals increased by 2% or GEL 69.1 million and hit GEL 3.5 billion.

The volume of the non-bank deposits portfolio of Georgian commercial banks went up by 9% or GEL 643.2 million within reported period, and exceeded GEL 7.8 billion. In July compared to the previous month, the volume of demand deposits increased by GEL 392.2 million (12.1%) and term deposits increased by GEL 251.3 million (6.4%).

The share of US dollar in the total volume of foreign currency denominated deposits equals to 80.8% and the share of Euro equals to 16.6%.

Other Stories
Georgian wine tasting in the US came off excellently
Georgian wine tasting in the main cities of the US, New York, Chicago, and Boston went off excellently.
The most wanted fruits from Georgia
The fruit exportation has decreased in Georgia. According to Geostat (National Statistics Office of Georgia), this year, up until May Georgia exported 25 939 300 USD worth of fruit – 6 771 300 USD less than in 2018.
Investment Plan for Europe – Additional EUR 800 million for SMEs as EIF and ProCredit double support for innovative companies
The European Investment Fund (EIF) and ProCredit Group are providing an additional EUR 800 million to innovative small and medium-sized companies (SMEs),
Everything of comfortable life in one space – Second part of construction of one of the largest apartment complexes finished in Tbilisi
Apartment in ecologically clean environment, thousands of square meters of green yard, swimming pools, places for various sports activities, treks for walking and running, commercial spaces – all these available in one space is not a fantasy.
Batumi awarded Europe's Leading Emerging Tourism Destination 2019
World Travel Awards Europe Gala Ceremony 2019 took place on the 8th of June in Madeira, Portugal.
Coca Cola to open new factory in Georgia, will hire female drivers
Coca Cola is opening new factory in Georgia in December.
World's best party supply company now on the Georgian market
The largest party supply store in Georgia - MyDay is launching as the official distributor of AMSCAN from 2019.
Live as a marketing tool and an unprecedented live stream launched by Livetag
Sharing information has become smoother and more versatile in today’s technological world. Recently, live streaming, an online streaming media has become especially popular.
Theme and program of Caspian Energy Forum Tbilisi – 2019 changed
“The 8th International Caspian Energy Forum Tbilisi – 2019, scheduled for June 21, will focus on the development of the Azerbaijan-Georgia relations in the field of economy and energy”,
Misunderstanding over Poti deep sea ports
There was misunderstanding around deep sea ports in Georgia – in Poti.
High demand for dollars or the investment decline – Why Georgian Lari depreciates
$1 equals GEL 2,7470 in the official rate set by the National Bank of Georgia (NBG).
PSP Group confirms negotiations regarding purchasing of GEO Hospitals
PSP Group confirms negotiations regarding purchasing of GEO Hospitals.
New life to be given to Dashbashi Canyon
Georgia’s Agency of Protected Areas is planning to give new life to Dashbashi Canyon in Tsalka (southeastern Georgia).
Who is constructing “Khadori 3” Hydropower Plant in Pankisi Gorge?
Clashes broke out in Pankisi Gorge, Georgia’s northeastern region between special forces and residents
Business Positive – Successful radio program from Radio Positive
Starting point of radio program Business Positive is to meet interesting people, communicate with them and deliver information that is interesting for the audience.
A factory of electric vehicles to be built in Kutaisi
Prime Minister Mamuka Bakhtadze stated that a factory of electric vehicles will be built in Kutaisi at the presentation of the Aigroup business group.
Qvevri-shaped hotel complex to be built in Telavi
A Qvevri-shaped hotel complex is scheduled to be built in the village of Shalauri in Telavi, Kakheti (east part of Georgia).
Georgian designers presented at Fashion World Tokyo 2019
The products of 11 Georgian designers are showcased at Fashion World Tokyo 2019,
Silknet raises $200 million in Eurobond issue
27 March 2019 - JSC Silknet (“Silknet”), one of Georgia’s leading telecommunications operators, has successfully priced a debut $200 million 5-year 11% senior unsecured bonds issue (the “Notes”).
Pistachio trees will be planted in Georgia
Dozens of hectares of Pistachio are planned to be planted in Georgia this year.
Toyota Safety Sense and Hybrid Technology
Toyota Caucasus, has presented two new models the 5th generation RAV4 and the 12th generation Corolla at Rustavi International Motorpark, several days ago.
Bidzina Ivanishvili “became number one oppressor of businesses in Georgia” - ICC Georgia chairman Fady Asly
Mr. Ivanishvili promised the business community to protect them from harassment and pressure, unfortunately his words died with the sunset of that day
The best brands of Belarus will be exhibited on a large-scale exposition in Tbilisi
"The Belarusians like to come to Georgia to relax near the sea in Batumi as well as to stay in sunny Kakhetia."
Don’t treat business like a hooker! - Georgian businessman Vasil Soprpmadze addresses politicians
Businessman Vasil Sopromadze, founder of the company "Fresco", addresses politicians
RAV4 No Compromise and Corolla Set to Impress – Two New Cars Presented by Toyota
Toyota Caucasus, the company constantly aspiring to greatness, has presented two new models the 5th generation RAV4 and the 12th generation Corolla.
GEL Exchange Rate
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
July 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31