Investor Presentaiton
Sources: NBG
3500
3000
2500
2000
1500
1000
500
0
-500
Prudent monetary policy ensures macro-financial stability
International reserves
Monetary policy rate
Sources: NBG
Jan-04
Jun-04
Nov-04
Apr-05
Sep-05
Feb-06
Jul-06
Dec-06
May-07
Oct-07
Mar-08
Aug-08
Jan-09
Jun-09
Nov-09
Sources: IMF, NBG
Georgia
Turkey
Lithuania
Latvia
Czech Rep.
Poland
Hungary
Armenia
Russia
Bosnia & Herz.
Croatia
Bulgaria
Kazakhstan
Belarus
Portugal
Official Reserve Assets, US$ mln
Apr-10
Sep-10
Feb-11
Jul-11
Dec-11
May-12
Oct-12
Mar-13
Jan-14
Jun-14
Nov-14
Apr-15
Sep-15
Feb-16
Jul-16
Dec-16
May-17
Oct-17
Mar-18
Nonperforming loans to total gross loans
Net Foreign Assets, US$ mln
2.8%
3.0%
3.3%
3.6%
3.8%
4.1%
4.8%
6.8%
10.2%
11.1%
12.3%
12.4%
12.7%
12.8%
15.5%
3500
9%
3000
8%
2500
7%
2000
6%
1500
5%
1000
4%
500
3%
0
2%
-500
1%
0%
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jun-15
Sep-15
Dec-15
Mar-16
May-16
Aug-16
Nov-16
Feb-17
May-17
Jul-17
Oct-17
Monetary policy rate remains low vs. peers
Sources Central banks
18%
End-2017 Latest-2018
15%
12%
9%
of do do do
3%
8.00%
7.25% 7.25%
6.00%
6%
Kazakhstan
9.25%
10.50%
11.00%
Belarus
Azerbaijan
Ukraine
17.00%
Jan-18
Page 69
Apr-18
5%
3%
1%
0%
dlo do do do do do do do do do
9%
8%
7%
6%
4%
2%
GEORGIA
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