11 Jan 2011 16:53

Georgian Nat'l Bank foreign assets grow 12% in 2010

TBILISI. Jan 11 (Interfax) - The National Bank of Georgia ended 2010 with foreign assets worth a little under 4.025 billion lari, an increase of 435.5 million lari (or 12.1%) over the year, the Bank said in a statement.

Foreign assets increased 5.4% in Q4, including 1.9% just in December.

National Bank figures show net foreign assets growing 21.3% last year to 2.483 billion lari.

The bank's net domestic assets, which began 2010 in the red at minus 158.5 million lari, ended the year at minus 401.9 million lari.

M1 reserve money increased 12.4% to stand at 2.081 billion lari as 2011 began, including 1.618 billion lari of M0 national currency in circulation - up 14.4%. Bank deposits increased 6% to 462.9 million lari.

The National Bank of Georgia's foreign assets grew 43.1% in 2009 to 3.59 billion lari.

The official exchange rate for January 11: 1.7815 lari/$1.