Page 42 - GEORptJul22

Georgian loan portfolio grows by 18.1% y/y in December
There are 14 commercial banks in Georgia, including 13 foreign-owned entities, as of March 31, 2022.
Compared to the previous month, the total assets of Georgian commercial banks (in current prices) increased by GEL98.04mn (0.2 percent) and constituted GEL61.79bn in March.
Georgia’s loan portfolio growth accelerated to 18.1% y/y in December 2021, while Tbilisi’s residential PPI was up 1.2% in Q42021, reports brokers Galt & Taggart.
In December 2021, Georgia’s banking sector loan portfolio growth accelerated to 18.1% y/y (+3.7% m/m), excluding FX effects, after a 16.4% y/y growth in the previous month. In unadjusted terms, the loan portfolio was up 12.6% y/y (+3.9% m/m) to GEL43.0bn ($13.9bn). By sector, both corporate and retail loans growth (excluding FX effects) accelerated to 17.7% y/y (from 16.2% y/y in the previous month) and to 18.4% y/y (from 16.7% y/y in the previous month), respectively, in December. Notably, the mortgage loan portfolio increased by 12.0% y/y in December after growing by 11.3% y/y in the previous month. In December 2021, loan dollarisation stood at 50.6% (-4.70ppts y/y and +0.26ppts m/m) and NPLs stood at 1.9% (-0.39ppts y/y and -0.32ppts m/m).
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.
42 GEORGIA Country Report July 2022 www.intellinews.com