Banking sector is overcoming crisis

The National Bank of Georgia is spreading the cheerful news that for the first time in the last 13 months the banking sector has accrued a simple profit. Deposits in the banks on October 1, 2009 were worth more than GEL 3 billion, 4.1% more than on September 1. 77.7% of deposits are in USD, 21.1% in Euro.

The National Bank of Georgia has utilised around GEL 400 million in reserves to maintain stable GEL to USD rate. Overall the situation in the banking sector is now stable and solid.