NPLs at 2.3% in July 2020
In July 2020, the banking sector loan portfolio increased by 13.4% y/y after growing 13.9% y/y in previous month, excluding the exchange rate effect. In unadjusted terms, loan portfolio was up 17.5% y/y and 2.1% m/m to GEL 34.5bn (US$ 11.2bn). Deposits were up 18.7% y/y excluding the exchange rate effect. In unadjusted terms, deposits were up 22.3% y/y and 6.2% m/m to GEL 30.5bn (US$ 9.9bn). Loan dollarization stood at 56.7% (+0.31ppts y/y and +0.19ppts m/m) and deposit dollarization was 60.6% (-2.85ppts y/y and -0.83ppts m/m). NPLs stood at 2.3% in July 2020 (-0.64ppts y/y and -0.11ppts m/m).
NBG sold US$ 40mn
On 27 August 2020, the NBG intervened on the FX market and sold US$ 40mn to limit GEL volatility. This was 11th FX intervention YTD for a total sale of US$ 329.7mn through FX auctions
