Which country's representatives keep money in the Georgian financial sector
The share of non-resident clients deposits in total non-bank deposits decreased by 2018 and reached 16% in December.
According to the National Bank's annual report, these deposits are diversified according to the countries of origin, which is a positive factor in risks assumption.
At the same time, the share of long term deposits remains high, which also significantly reduces the risk of drain.
Such deposits are owned by 949 legal and 2749 individual non-residents in Georgia. In addition, 1960 deposits are long term, 896 for demand and 842 current.
During 2018 deposits increased by 3.2 billion GEL (16.3 % and 13.9 % without the effect of exchange rate) and reached 23.0 billion GEL by December.
According to the Depository Structure, the growth of deposits of individuals and legal entities amounted to 17.1 % and 15.3 % respectively (14.3% and 13.4 % without the effect of exchange rate)
In 2018 the deposits in GEL were increasing and reached 36.9% in December.