BANKING SECTOR - I-III QUARTERS, 2016
Analysis of January-November 2016, compared to the corresponding period in 2015:
- Net profit of commercial banks increased by 25.1% (114 mln GEL) and amounted to 567 mln GEL;
- The volume of deposits increased (9.4%), as did the volume of loans (7.9%) (adjusted for exchange rate);
- The proportion for which construction (by 2.8 percentage points), financial intermediation (2.5 percentage points) and hotels and restaurants (3.0 percentage points) were responsible for total loans increased;
- The volume of non-performing loans increased by 9.5%, which is mostly due to depreciation of GEL exchange rate.
According to data for November 2016, there are 16 banks in the Georgian banking sector.