Tbilisi (GBC) - The assets of the banking sector increased in correlation with the gross domestic product (GDP).
According to the updated (31.10.2024) statistics by the NBG, the ratio totals to 104.4%. The share of deposits has also increased Compared to previous months. The ratio of deposits to GDP is 66.3%, and loans to 68.4%.
Since the beginning of the year, there has been an increase in both deposits and loans (01.01.2024 - 63%; 65.6%), which is due to the increase in the productivity of the economy. Competition has also increased in the market.
Assets/GDP have increased by almost 5% points.
The ratio of monetary aggregates to GDP was the highest post-pandemic, in the spring of 2021, when banking sector assets were 116.6% of GDP. Then, by 04/2021, the ratio of deposits was up to 73%, the ratio of loans was up to 78%.
According to the Q3/2024 report of the sector, as of October 1, the assets of the banks are 90.6 billion GEL, the total loans are up to 60.5 billion GEL, and the deposits – GEL 52.3 billion.
When determining the the NBG’s ratio, it is guided by the GDP data of the last 4 quarters.