The FINANCIAL -- Total volume of the non-bank deposits in the country's banking sector increased by 5.5 percent or 371.5 million GEL compared with the May 1, 2012, and constituted 7.1 billion GEL by June 1, 2012.

Accoprding to the National Bank of Georgia , in May, 2012, compared to the previous month, the volume of demand deposits increased by 64.0 million GEL (2.0 percent) and term deposits increased by 307.4 million GEL (8.9 percent).

The dollarization ratio of the total non-bank deposits constituted 62.23 percent by June 1, 2012. It increased by 3.0 percentage points compared to May 1, 2012. Increase of this indicator is caused by deposits received from sales of Eurobonds issued by Georgian Oil and Gas Corporation.

The annual average weighted interest rate on term deposits constituted 9.0 percent. In particular, the interest rate for national currency denominated deposits was 11.5 percent and the interest rate for foreign currency denominated deposits 8.7 percent.

The share of US dollar in the total volume of foreign currency denominated deposits equals to 80.2 percent and the share of Euro equals to 17.3 percent.

Related Stories

• ProCredit Bank Georgia and Oesterreichische Entwicklungsbank have signed acredit line agreement
• Bank Republic and Tsiskari foundation, Helps Neglected Children to Integrate into Society
• BasisBank opened a service center at Tsereteli Str. N1, Kutaisi.