The FINANCIAL — According to data by National Bank of Georgia, the amount of deposits as of June 2014 in the national currency is GEL 1,274,458,000.
Out of which GEL 165,772,000 is made up by current accounts, while other demand deposits are GEL 485,225,000, and total time deposits are GEL 623,460,000. Out of the total time deposits, less than 1 month deposits make up GEL 145,000, 1-3 months – GEL 41,093,000, 3-6 months – GEL 43,890,000, 6-12 month deposits – GEL 285,065,000, and over 1 year – GEL 253,267,000.
The number of deposits for 6-12 months is 12.6% higher than the deposits for over 1 year. Current accounts make up only 37% of the total amount of deposits. If we compare the data of June 2014 to the data of June 2013, the amount of total deposits has increased by 33.77%.
Total deposits were 952,889,000 as of June 2013. Current accounts have increased by 69.8%, other demand deposits have increased by 28.7%. Less than 1 month time deposits have decreased by 20.45%, 1-3 month time deposits have increased by 74.7%, 3-6 months have increased by 34.9%, 6-12 months have increased by 31.7%, and over 1 year deposits have increased by 23.2%.
The amount of deposits as of June 2014 in a foreign currency is GEL 3,879,459,000. Out of which, current accounts are GEL 222,215,000, while other demand deposits are GEL 1,073,909,000, and total time deposits are GEL 2,583,335,000. Out of total time deposits, less than 1 month deposits are GEL 221,000, 1-3 months are GEL 155,634,000, 3-6 months are GEL 185,478,000, 6-12 month deposits are GEL 1,205,361,000, and over 1 year – GEL 1,036,641,000.
The number of deposits for 6-12 months is 16.3% higher than the deposits for over 1 year. Current account is only 5.7% of the total amount of deposits. If we compare data of June 2014 to data of June 2013, the amount of total deposits has increased by 20.89%. Total deposits were GEL 3,209,205,000 as of June 2013. Current accounts have increased by 71.98%, other demand deposits have increased by 27.5%. Less than 1 month time deposits have decreased by 89.83%, 1-3 month time deposits have increased by 67.3%, 3-6 months have increased by 23.3%, 6-12 months have increased by 25.2%, and over 1 year deposits have increased by 0.7%.
The market interest rate on deposits as of May 2014 is 6%, which is the average interest rate for legal entities and individuals in the national currency. The interest rate on loans for legal entities in the national currency is 6.3%.
Compared to the previous month when the interest rate was 7.7%, there has been a decrease of 18.2%. If we compare the numbers to the same period of the previous year when the percentage was 9.3%, we would have a decrease of 32.3%.
The interest rate on deposits for individuals in the national currency is 9.6%. Compared to the previous month’s interest rate there was an increase of 2.9%. But if we compare today’s interest rates to the same period of the previous year we would have a 10.6% decrease.
The interest rate on deposits in a foreign currency was 5.3% in May 2014 on average for legal entities and individuals. The percentage of interest rates on deposits for legal entities was 6.2% in a foreign currency. Compared to the previous month when the interest rate was 4.9%, there was an increase of 26.5%. If we compare the numbers to the same period of the previous year the percentage for that time was 7.9%, and we would have a decrease of 21.5%.
The interest rate on deposits for individuals in a foreign currency is 5.1%. In the previous month the interest rate was 5%. The percentage of increase comparing May to April was 0.81%. But if we compare today’s interest rates to the same period of the previous year we would have a 23.4% decrease.
In the case of the national currency the interest rates for individuals are 52% higher than the interest rates for legal entities. In the case of foreign currencies the result is the opposite, interest rates for individuals are 18.5% lower than the interest rates for legal entities.
The lowest interest rate for deposits for the whole year was in November 2013, when it was 5.9%. The interest rate on deposits in the national currency reached its lowest percentage for one year in May 2014 when it was 7.7%, the same number for legal entities was lowest in September 2013 when it was 5.4%, and for individuals – in April 2014 when it was 9.3%.
The data for foreign currencies is as follows: the interest rate reached its lowest percentage in April 2014 when it was 5%. The percentage for legal entities was lowest in November 2013 when it was 4.4%, and for individuals it was in August 2013 and also in April 2014, when the numbers were the same – both 5%.
The interest rates on deposits in the national currency for June 2014 are as follows: the interest rate on current accounts is 9.8%, on other demand deposits is 4.6%, and on time deposits is 11%. Out of time deposits, for less than 1 month deposits the interest rate is 6.1%, on 1-3 month deposits it is 7.2%, on 3-6 month deposits it is 7.9%, on 6-12 months it is 10.9%, and on over 1 year deposits it is 12.2%.
The interest rates on deposits in a foreign currency for June 2014 are as follows: the interest rate on a current account is 4.9%, on other demand deposits is 2.8%, and on time deposits – 6.2%. Out of time deposits, for less than one month deposits the interest rate is 3.8%, in the case of 1-3 month deposits the interest rate is 3.2%, for 3-6 month deposits the percentage is 4.3%, for 6-12 months the number is 5.8%, and for over 1 year deposits the interest rate is 7.5%.
Discussion about this post