Deposits of foreigners in banks of Georgia reached a historical maximum

Deposits of foreign citizens in Georgian banks in June increased to 4.7 billion lari, which is a historical maximum. This was reported by bm.ge agency with reference to the data of the National Bank of Georgia (NBG).

In just seven months, from January to July 1, the volume of deposits of foreigners in Georgian banks increased by 870 million lari. It is important that most of their deposits are denominated in dollars.

In terms of the volume of deposits of foreign citizens, the Bank of Georgia occupies the first place - more than 2.1 billion lari. It is followed by another large commercial bank, TBC Bank.

In Liberty Bank, which is engaged in issuing pensions and social benefits to citizens of Georgia, the volume of deposits of foreigners is 123 million lari.

The total volume of deposits in Georgian banks as of July 1, 2022 amounted to more than 32.7 billion lari. Accordingly, the portfolio of foreigners is 12.5%.

The NBG data does not specify which country citizens own the deposits.

According to the annual report of the regulator, in 2021, citizens of the Russian Federation had the largest number of deposits in Georgian banks. They accounted for 14% of all deposits.