Georgian banking sector results

According to National Bank of Georgia data the banking sector made more than GEL 12 million in January 2011. As of February 1 total assets for the banks were over GEL 10 billion (approximately USD 6 billion). More than 80% of the capital assets of Georgian banks is in foreign capital; 70% of deposits are in US dollars, while 20% are in euros. As of February 1 there were 19 commercial banks and two foreign affiliate banks operating in the country.