Page 39 - GEORptFeb22

By the end of December 2021, the total volume of national currency-denominated loans to resident legal entities issued by commercial banks amounted to GEL6.92bn, and foreign currency-denominated loans constituted GEL13.69nm.
There are 14 commercial banks in Georgia, including 13 foreign-owned banks as of January 1, 2022.
In December 2021, compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by GEL1.04bn (1.75%) and constituted GEL60.57bn.
The banking sector's equity capital equals GEL7.73bn, which makes up 12.76% of the commercial banks' total assets, the NBG reports.
8.1.3 Deposits
Georgia’s bank deposits grew by 12% y/y in Dec 2021
Bank deposits grew by 12.0% y/y (+3.7% m/m, excluding FX effects) to GEL37.2bn ($12.0bn) in December 2021, after a 11.8% y/y in the previous month. By currency, GEL deposits were up 11.3% y/y and FX deposits increased 12.4% y/y (excluding FX effects) in December. The deposit dollarisation fell to 60.0% (-1.44ppts y/y and -0.54ppts m/m).
Commercial banks in Georgia received deposits of GEL37.16bn in December 2021, the National Bank of Georgia (NBG) said. Deposits increased by GEL1.42bn (3.96%) month-on-month.
In December 2021, the sum of term deposits increased by GEL191.41mn, while demand deposits increased by GEL1.22bn.
8.1.4 NPLs
NPL ratio for Georgia’s banks doubles during 2020 to 8.4%
The Financial Stability Committee of the National Bank of Georgia (NBG) has announced that, against the background of the crisis of 2020, the volume of non-performing loans (NPLs) in the country has doubled compared to the previous year and accounts for 8.4% of the banking system’s loan portfolio.
According to NBG forecast, the NPL ratio in the banking system is expected to
39 GEORGIA Country Report February 2022 www.intellinews.com