NPLs at 2.4% in March 2018
In March 2018, the banking sector loan portfolio increased 21.6% y/y after growing 20.0% y/y in previous month, excluding the exchange rate effect. In unadjusted terms, loan portfolio was up 18.0% y/y and up 1.3% m/m to GEL 22.2bn (US$ 9.2bn). Deposits were up 22.9% y/y excluding the exchange rate effect. In unadjusted terms, deposits were up 22.1% y/y and up 2.4% m/m to GEL 19.6bn (US$ 8.1bn). Deposit dollarization declined to 62.8% (-6.4ppts y/y and -0.9ppts m/m). NPLs stood at 2.4% in March 2018 (-1.3ppts y/y and -0.4ppts m/m).