saqarTvelos erovnuli banki -...

saqarTvelos erovnuli banki

2008 weli

wliuri angariSi

sarCevi

Sesavali ........................................................................................................................................4

1. makroekonomikuri garemo ........................................................................................................9

1.1 msoflio ekonomika ..........................................................................................................9

1.2 ekonomikis zrda ............................................................................................................ 11

1.3 samomxmareblo fasebis cvlileba ................................................................................ 12

1.4 saxelmwifo finansebi .................................................................................................... 15

1.5 ekonomikis sagareo seqtori da sagadasaxdelo balansi ........................................... 17

1.6 safinanso bazrebi .......................................................................................................... 23

2. fulad-sakredito da savaluto politika ........................................................................... 25

2.1 fulad-sakredito politika ......................................................................................... 25

2.2 savaluto politika da saerTaSoriso rezervebis marTva ........................................ 30

2.3 fulis miwodeba .............................................................................................................. 32

2.4 fulad sakredito politikis instrumentebi ............................................................. 34

3. sabanko seqtori ...................................................................................................................... 37

4. sagadaxdo sistema .................................................................................................................. 40

5. Sida auditi da sabuRaltro aRricxva .................................................................................. 41

6. sakaso-saemisio samuSaoebis organizacia ............................................................................. 42

7. sazogadoebasTan urTierToba da saerTaSoriso TanamSromloba ....................................... 45

8. saqarTvelos erovnuli bankis personali da kvalifikaciis amaRlebis organizeba ............46

9. normatiul-samarTlebrivi bazis ganviTareba ..................................................................... 47

10. statistikuri cxrilebi ....................................................................................................... 49

11. finansuri angariSgeba .......................................................................................................... 72

4 saqarTvelos erovnuli banki

warmodgenili wliuri angariSi momzadebu-

lia „saqarTvelos erovnuli bankis Sesaxeb“

saqarTvelos organuli kanonis 62-e da 621-e

muxlebis Sesabamisad da asaxavs „angariSs

fulad-sakredito da savaluto politikis

ganxorcielebis Sesaxeb“ da „auditorebis

mier damowmebul safinanso angariSgebas“.

dokumentSi ganxilulia is prioritetuli

mimarTulebebi, romliTac xelmZRvanelobda

qveynis centraluri banki saangariSo perio-

dSi. agreTve, misi Sefasebebi qveyanaSi da

mis farglebs gareT mimdinare procesebze,

romlebic 2008 wlis ganmavlobaSi arsebiT

gavlenas axdendnen saqarTvelos ekonomikis

mdgomareobasa da erovnuli bankis mier da-

saxuli amocanebis Sesrulebaze.

2008 wels saqarTvelos erovnuli banki

monetaruli politikis SemuSavebisas xel-

mZRvanelobda “saqarTvelos erovnuli bankis

Sesaxeb” saqarTvelos organuli kanonis me_2

muxliT gansazRvruli ZiriTadi amocanebiTa

da funqciebiT, romlis Tanaxmadac, erov-

nuli bankis ZiriTadi amocanaa fasebis sta-

bilurobis uzrunvelyofaa. agreTve, erov-

nulma bankma unda uzrunvelyos finansuri

sistemis stabiluroba da gamWvirvaloba da

xeli unda Seuwyos qveyanaSi mdgrad ekono-

mikur zrdas, Tu es SesaZlebelia ise, rom

safrTxe ar Seeqmnas misi ZiriTadi amocanis

Sesrulebas.

saqarTvelos erovnuli banki saangariSo

wlis ganmavlobaSi Tavis saqmianobas „2008

wlis saqarTvelos fulad-sakredito da

savaluto politikis ZiriTadi mimarTu-

lebebis Sesaxeb“ saqarTvelos parlamentis

2007 wlis 18 dekembris N5634 dadgenilebis

Sesabamisad axorcielebda. saqarTvelos

parlamentis aRniSnuli dadgenilebiT,

2008 wlis ganmavlobaSi saqarTvelos erov-

nuli bankis fulad_sakredito da savalu-

to politikas safuZvlad daedo wliuri

inflaciis saprognozo maCvenebeli 8 pro-

centis farglebSi, amavdroulad, egzoge-

nuri faqtorebis SemTxvevaSi SesaZlebeli

iyo saprognozo maCveneblidan gadaxra.

amasTanave, Tu gadaxris masStabi imdenad

mniSvnelovani iqneboda, rom inflaciaze

moqmed iseT fundamentur faqtorze, ro-

goricaa inflaciuri molodini, moaxdenda

potenciur gavlenas, erovnuli banki aseT

SemTxvevas monetaruli politikis gamka-

crebiT (an SerbilebiT) upasuxebda.

2008 weli gansakuTrebulad gamorCeuli

weli iyo saqarTvelos ekonomikisaTvis am

periodSi ganviTarebuli msxvili uaryofiTi

egzogenuri Sokebidan gamomdinare. ruseTis

agresiam 2008 wlis agvistoSi da Semdeg se-

qtembris bolos msoflio safinanso krizisis

gamwvavebam mniSvnelovani gavlena moaxdines

qveynis ekonomikaze da Sesabamisad seriozu-

li gamowvevebis winaSe daayena saqarTvelos

erovnuli banki.

ZiriTadad egzogenuri da nawilobriv mo-

netaruli faqtorebis gavleniT 2008 wels in-

flacia sakmaod maRali meryeobiT xasiaTde-

boda. 2008 wlis pirveli naxevris ganmavloba-

Si wliuri inflaciis maRali maCvenebeli da-

fiqsirda, rasac erovnulma bankma monetaru-

li politikis gamkacrebiT upasuxa. erovnuli

banki 2008 wlis meore naxevridan monetaruli

politikis gamkacrebas unda gamoeRo Tavisi

Sedegi da inflacias klebis tendencia eqne-

boda. Tumca wlis meore naxevris dasawyisSi

ganviTarebulma movlenebma kidev ufro gaa-

Zliera disinflaciis wnexi. inflaciis Semci-

rebas mniSvnelovnad Seuwyo xeli msoflio sa-

saqonlo bazrebze fasebis dacemam da Sedegad

wlis bolos inflaciis maCvenebeli mkveTrad

Sesavali

Sesavali

5wliuri angariSi / 2008 weli

_ 5.5 procentamde Semcirda, xolo saSualo

wliuri inflaciis maCvenebelma 10 procenti

Seadgina.

2008 wlis pirvel naxevarSi saqarTvelos

erovnuli banki savaluto politikas axorcie-

lebda mcuravi gacvliTi kursis pirobebSi,

romlis ganmavlobaSic erovnulma banki cdi-

lobda gaezarda gacvliTi kursis moqniloba.

amasTan, laris kursis mkveTri koniunqturu-

li ryevis Tavidan acilebisa da savaluto ba-

zarze stabilurobis uzrunvelyofis mizniT,

saqarTvelos erovnuli banki axorcielebda

ormxriv savaluto intervenciebs.

wlis pirvel naxevarSi, saqarTvelos erov-

nuli banki etapobrivad cdilobda gacvliTi

kursis bazarze misi Carevis Semcirebasa da

moklevadiani meryeobebis daSvebas, rac Ta-

vis mxriv saSualo da grZelvadian periodSi

gacvliTi kursis stabilurobas uwyobs xels.

Tumca ruseTis agresiis finansur stabilu-

robaze uaryofiTi gavlenis Serbilebis miz-

niT erovnuli banki iZulebuli iyo droebiT

SemoeRo fiqsirebuli gacvliTi kursi aSS

dolaris mimarT. oqtombris meore naxevar-

Si, msoflioSi mimdinare finansuri krizisis

gamwvavebis fonze saerTaSoriso savaluto

bazrebze aRiniSna aSS dolaris mkveTri ga-

myareba TiTqmis yvela ZiriTadi valutis mi-

marT, ramac Zalauneburad gamoiwvia laris

gamyareba amave valutebTan mimarTebaSi. Se-

qmnili viTarebidan gamomdinare ekonomiku-

rad yvelaze mizanSewonili gamosavali la-

ris erTjeradi devalvacia iyo, rac ganxor-

cielda kidec 2008 wlis noembris dasawyisSi.

devalvaciis Sedegad laris kursi dolarTan

mimarTebiT 16 procentiT daeca da amis Se-

mdeg savaluto bazarze aRdga wonasworoba

moTxovna_miwodebas Soris. nominaluri efe-

qturi gacvliTi kursi daubrunda agvistos

dasawyisis maCvenebels. garda imisa, rom de-

valvaciam xeli Seuwyo savaluto bazarze

stabilurobis aRdgenas da mimdinare etapze

Seamcira wnexi qveynis saerTaSoriso sava-

luto rezervebze, es agreTve prevenciuli

zoma iyo raTa samomavlod Tavidan acilebu-

liyo deficituri savaWro balansis Semdgomi

mkveTri gauareseba. saqarTvelo devalvaciis

saWiroebamde miiyvana ruseT_saqarTvelos

omis Sedegebma, rasac daemata msoflio fi-

nansuri krizisi. Tumca aRsaniSnavia, rom am

mxriv msoflio finansuri krizisis gavlena

imdenad mniSvnelovani iyo, rom omis gareSec

regionis ramdenime qveyana, sadac marTvadi

kursis reJimi arsebobda, iZulebuli gaxda

analogiuri nabiji gadaedga.

2008 wels aSS dolaris mimarT laris sa-

Sualo wliuri gacvlis kursi 11 procentiT

gamyarda (1.6703_dan 1.4902_mde), xolo wlis

bolo monacemiT gacvlis kursi 4.7 procen-

tiT gaufasurda (lari/aSS dolaris gacvlis

kursi 1.5916_dan 1. 6670_mde gaizarda).

wlis ganmavlobaSi mkveTr cvlilebebs gani-

cdida agreTve nominaluri da realuri efe-

qturi gacvliTi kursebi. kerZod, saangariSo

wlis ganmavlobaSi nominaluri efeqturi kur-

si 14.4 procentiT, xolo realuri efeqturi

gacvliTi kursi _ 9.6 procentiT gamyarda.

msoflios absoluturad yvela qveyana aR-

moCnda globaluri finansuri da ekonomikuri

krizisis msxverpli da umravlesoba maTganSi

recesiuri procesebi ganviTarda. aRniSnuli

krizisi meore msoflio omis Semdgom yvela-

ze mZime krizisia. mimdinare krizisi farTed

sinqronizirebulia (moicavs msoflios qvey-

nebis umravlesobas) da igi finansuri krizi-

sis Sedegad ganviTarda. rogorc istoriuli

gamocdileba adasturebs safinanso seqto-

ris mier gamowveuli ekonomikuri krizisi

ufro mwvavea da misgan Tavis daRweva ufro

didxans grZeldeba. amitomac, zogierTi eqs-

perti paralels avlebs mimdinare krizissa

da 1930-iani wlebis did depresias Soris, ro-

melic yvelaze mZime da xangrZlivi recesia

iyo msoflios istoriaSi.

Sesavali


msoflio ekonomikuri krizisi, misi masS-

tabidan gamomdinare, bunebrivia saqarTve-

los gverds ver auvlida da man ramdenime

ZiriTadi arxis meSveobiT moaxdina masze ga-

vlena.

pirvel rigSi, ekonomikurma krizisma ua-

ryofiTad imoqmeda zogadad investorebis

ndobaze, ramac maT ubiZga usafrTxo aqti-

vebSi gadaenacvlebinaT saxsrebi. Sedegad,

Semcirda kapitaluri nakadebi rogorc gan-

viTarebad qveynebSi, aseve TviT ganviTa-

rebuli qveynebis korporatiul seqtorSi.

2008 wlis bolo ramdenime Tvis ganmavlo-

baSi saqarTveloSi aRiniSneboda rogorc

pirdapiri ucxouri investiciebis nakadebis

tempebis sagrZnobi Seneleba, aseve sxva ker-

Zo ucxouri investiciebis, maT Soris sava-

lo kapitalis.

wlis pirvel naxevarSi grZeldeboda pir-

dapiri ucxouri investiciebis nakadebis da

safinanso saqmianobis zrdis maRali tempebis

SenarCuneba. Sedegad, qveynis mSp_is realur-

ma zrdam wlis pirvel da meore kvartalebSi

Seadgina, Sesabamisad, 9.1 da 8.3 procenti.

2008 wlis agvistos omisa da msoflio sa-

finanso krizisis Sedegad mesame da meoTxe

kvartalSi mSp realur gamosaxulebaSi Sesa-

bamisad 3.9 da 2.5 procentiT Semcirda. 2008

wlis 6 Tvis Semdeg realuri mSp_is zrdis

8.7_procentiani maCvenebeli wlis bolosa-

Tvis 2.1 procentamde Semcirda.

krizisis Sedegad Semcireba daiwyo warmo-

ebis da vaWrobis moculobebma msoflioSi,

rac Tavis mxriv uaryofiTad aisaxa saqar-

Tvelos eqsportze moTxovnaze. garda amisa,

saerTaSoriso sasaqonlo bazrebze liTo-

nebis fasebis mniSvnelovanma vardnam aseve

uaryofiTi asaxva hpova qarTul eqsportze.

yovelive aman mniSvnelovnad Seamcira sa-

qarTvelos saeqsporto Semosavlebi. Tumca

aqve aRsaniSnavia, rom navTobze da sakveb

produqtebze fasebis klebam Seamcira dawo-

la qveynis mimdinare angariSis balansze da

adgilobriv fasebze.

msoflio ekonomikurma krizisma mniSvne-

lovani uaryofiTi gavlena iqonia ruseTis

ekonomikaze, sadac adgili hqonda warmoebis

moculobis klebas da umuSevrobis zrdas.

sabednierod, saqarTvelos ekonomika aRar

aris imdenad damokidebuli ruseTis ekono-

mikaze, rogorc es Tundac ramdenime wlis

ukan da Sedegad ruseTis ekonomikis vard-

nidan gamomdinare saqarTvelos ekonomikaze

uaryofiTi gavlenis masStabi SezRudulia.

Tumca, jerjerobiT kvlav maRali rCeba ru-

seTis wili fuladi gzavnilebis kuTxiT da

Sesabamisad ruseTis ekonomikis dasusteba

uaryofiTad aisaxa maT Soris fulad gzavni-

lebze saqarTveloSi.

2008 wels saqarTvelos ekonomikaze didi

gavlena iqonia qveynis sabiujeto politikam,

sagadasaxado da sabaJo administrirebis gau-

mjobesebam, ramac 2008 wels qveynis biujets

dagegmilze meti Semosavali moutana. gada-

saxadebis mSp_Tan Sefardebis maCvenebelma

21.6 procentidan 24.9 procentamde moimata.

Semosavlebis zrdas xarjebis mniSvnelo-

vani matebac mohyva. 2008 wels saxelmwifo

xarjebis Tanafardobam mTlian Sida produ-

qtTan mimarTebaSi 35 procenti Seadgina. sa-

biujeto Semosavlebi da xarjebi zomierad

iyo dabalansebuli da monetaruli politi-

kis ganxorcilebas ar uSlida xels.

2008 wels saqarTvelos saxelmwifo da sa-

xelmwifo garantiiT aRebuli sagareo vali

1.265 miliardi lariT gaizarda da 31 dekem-

bris mdgomareobiT 3.695 miliardi lari

Seadgina. miuxedavad absolutur gamoxatu-

lebaSi matebisa, sagareo valis maCvenebeli

sakmaod dabalia da mSp_is mimarT 19 pro-

cents Seadgens.

2008 wels sagadasaxdelo balansis mi-

mdinare angariSis deficitma 2850.5 mln aSS

dolari Seadgina, rac mSp_is 22 procentia.

Sesavali


mimdinare angariSis deficits Semcirebis

tendencia qonda 2008 wlis meore naxevri-

dan, rac, mosalodnelia rom 2009 welsac

gagrZeldeba. amasTan aRsaniSnavia, rom 2008

wlis mimdinare angariSis deficiti araTu

srulad dafinansda, aramed adgili hqonda

sarezervo aqtivebis zrdas.

2008 wlis 31 dekembris mdgomareobiT

seb_is saerTaSoriso rezervebis moculobam

1 480.2 mln aSS dolari Seadgina, rac 2007

wlis analogiur maCvenebels 8.74 procentiT

aRemateba. wlis ganmavlobaSi saerTaSoriso

rezervebis zrdas Semdegi ZiriTadi wyaroe-

bi ganapirobebda: privatizaciidan miRebuli

saxsrebi (121 mln aSS dolari), saerTaSo-

riso savaluto fondidan miRebuli tranSi

(240 mln aSS dolari), aSS_dan miRebuli biu-

jetis daxmarebis granti (250 mln aSS do-

lari), agreTve finansTa saministrosaTvis

donori qveynebidan gacemuli sxva kreditebi

da grantebi. aseve saerTaSoriso rezervebis

zrdas uzrunvelyofda suverenuli fonde-

bidan Tanxebis repatriacia.

agvistoSi ruseTTan omis fonze SeiniSne-

boda komerciuli bankebidan depozitebis

gadineba, romelTa nawili maleve daubrun-

da sabanko seqtors Tumca fizikuri pirebis

mier drois mokle periodSi mniSvnelova-

ni moculobis depozitebis gadinebam Seqm-

na didi moTxovna naRd ucxour valutaze.

marTalia ucxouri valutis fulis niSnebiT

ekonomikis uzrunvelyofa ar Sedis erovnu-

li bankis ZiriTad funqciebSi, Tumca finan-

suri stabilurobis miznebidan gamomdinare,

sasicocxlod mniSvnelovani amocana iyo

qveyanaSi SegvenarCunebina sabanko sistemis

mimarT ndoba. am amocanis Sesasruleblad

seb_ma maqsimalurad mWidro vadebSi moa-

xerxa rogorc naRdi ucxouri valutiT (ro-

gorc aSS dolari, aseve evro) sabanko sis-

temis momarageba, aseve uzrunvelhyo Seu-

ferxebeli momsaxurebis gaweva komerciuli

bankebisa da mTavrobisTvis, riTac SeZlo

Tavidan aecilebina msgavsi krizisuli situ-

aciis Tanmdevi problemebi.

2008 wels, tradiciulad, fulis moTxo-

vnas ekonomikis zrda da sezonuri faqto-

rebi gansazRvravda. aRniSnuli faqtorebis

gaTvaliswinebiT, wlis bolo monacemis mi-

xedviT, farTo fuli (M3) 7-procentiT gai-

zrda, xolo farTo fuli ucxouri depozi-

tebis gareSe (M2) 13 procentiT Semcirda.

sabanko sistemis arasabanko sadepozito

valdebulebebi 2008 wels 12,1 procentiT

gaizarda da 3222,6 mln lari Seadgina. de-

pozitebis zrda mTlianad ucxour valutaSi

ganTavsebuli depozitebis xarjze moxda.

2008 wlis ianvar_ivlisSi saqarTvelos sa-

banko sistema Warbi likvidobis pirobebSi

operirebda, maRali iyo sesxebis zrdis tem-

pi, rac finansuri sistemis stabilurobisa

da inflaciis riskebs warmoqmnida. Sesabami-

sad, saqarTvelos erovnuli banki mimarTavda

monetaruli politikis gamkacrebis gzas.

risTvisac iyenebda Ria bazris operacie-

bs ZiriTadad erovnuli bankis sadepozito

sertifikatebis meSveobiT. wlis meore naxe-

varSi, agvistoSi ruseTis agresiis da mogvia-

nebiT msoflio safinanso krizisis gavleniT

ekonomika gadavida likvidobis deficitis

mdgomareobaSi. Sesabamisad, seb_ma myisierad

Semoabruna monetaruli politikis veqtori

da sagrZnoblad Seamsubuqa politika. agvis-

toSi gauqmda erovnuli bankis erTkviriani

sadepozito sertifikatebi da maT nacvlad

SemoRebul iqna monetaruli politikis axa-

li instrumenti - refinansirebis sesxebi.

komerciuli bankebisaTvis sakmarisi li-

kvidobis uzrunvelyofis mizniT erovnulma

bankma agvistoSi komerciuli bankebi droe-

biT jer srulad gaanTavisufla sarezervo

moTxovnebis dacvisagan, xolo Semdgom mi-

nimaluri sarezervo moTxovnis dasarezer-

vebeli Tanxa gansazRvra dadgenili dasare-

Sesavali


zervebeli Tanxis 25 procentis odenobiT.

2008 wlis 2 oqtombridan ki Semcirda Tavad

minimaluri sarezervo moTxovnebis norma

13-dan 5 procentamde.

agvistos da seqtemberis TveebSi ganviTa-

rebuli masiuri egzogenuri Sokebis da Se-

degad finansur seqtorze arsebuli wnexis

fonze gansakuTrebulad mniSvnelovani iyo

qveyanaSi sagadaxdo sistemebis gamarTuli

da Seuferxebeli funqcionireba. erovnulma

bankma uzrunvelyo qveynis sakmarisi ode-

nobiT naRdi fuladi niSnebiT momarageba,

rogorc erovnuli, aseve ucxouri valutiT.

saqarTvelos safinanso sistema, 2008 wlis

agvistoSi seriozuli gamocdis winaSe dad-

ga. saqarTvelos erovnulma bankma, safinan-

so zedamxedvelobis saagentosTan mWidro

TanamSromlobiT moaxerxa sabanko siste-

misaTvis Tavidan aecilebina garTulebebi.

pirvel rigSi unda aRiniSnos, rom is mkacri

da konservatiuli monetaruli da sazeda-

mxedvelo politika romelic xorcielde-

boda agvistomde, daexmara sabanko siste-

mas kargad momzadebuli yofiliyo SesaZlo

Sokebis mimarT.

saqarTvelos erovnulma bankma, finansu-

ri stabilurobis SenarCunebisa da sabanko

sistemis moklevadiani likviduri saxsrebiT

uzrunvelyofis mizniT, agvistoSi aamoqme-

da bolo instanciis dakreditebac. sesxebi

gaica uzrunvelyofis gareSe erTi Tvis va-

dianobiT. aRniSnuli instrumentiT mxolod

samma komerciulma bankma _ sul 38.1 mln

laris odenobis sesxiT isargebla. sesxebis

dafarva vadaze adre ganxorcielda.

rogorc aRvniSneT, saqarTvelos erov-

nulma bankma sagrZnoblad Searbila mone-

taruli politika, Seamcira saprocento

ganakveTebi, jer droebiT SeaCera savalde-

bulo sarezervo moTxovnebi da Semdeg 13_

dan 5 procentamde Seamcira savaldebulo

sarezervo normebi, SemoiRo refinansirebis

instrumenti, neba darTo komerciul banke-

bs moexdinaT maT xelT arsebuli fasiani

qaRaldebis adreuli gamosyidva da gaafar-

Tova giraod gamoyenebadi aqtivebis Camona-

Tvali. amas garda, saqarTvelos erovnulma

bankma seqtembris bolos aamoqmeda specia-

luri sasesxo instrumenti, romlis fargle-

bSi seqtemberSi 135.9 mln laris odenobis

eqvsi Tvis vadianobis sesxebi gaica.

saqarTvelos erovnuli bankis gadawyve-

tilebebma, finansuri zedamxedvelobis

saagentos analogiuri tipis qmedebebTan

erTad, SesaZlebeli gaxada, Tavidan agve-

cilebina safinanso seqtorSi mdgomare-

obis mkveTri gauareseba. agvistos omis

periodSi komerciuli bankebi klientebs

faqtiurad Seferxebebis gareSe emsaxure-

bodnen. mxolod moklevadiani SezRudvebi

iyo dawesebuli sesxebis gacemisa da inter-

netbankis gamoyenebis kuTxiT. seqtembris

TveSi sabanko seqtori met-naklebad dasta-

bilurda.

saqarTvelos erovnuli bankis saqmianobis

maqsimaluri gamWvirvalobis uzrunvelsayo-

fad da sabanko sistemaSi mimdinare proce-

sebis sazogadoebisaTvis operatiulad miwo-

debis mizniT, erovnuli banki operatiulad

avrcelebda presrelizebsa da statistikur

monacemebs, regularulad marTavda Sesaba-

mis Temebze preskonferenciebs, konferen-

ciebs, brifingebs, seminarebs, prezentacie-

bsa da Sexvedrebs. saqarTvelos erovnuli

bankis gamocemebis eleqtronuli versie-

bi xelmisawvdomia saqarTvelos erovnuli

bankis internet_gverdze.

2008 welsac fasebis stabilurobaze

orientirebuli fulad-sakredito politi-

ka sainvesticio garemos gaumjobesebas, mo-

saxleobis Semosavlebis gaufasurebisagan

dacvasa da mTliani Sida produqtis grZel-

vadiani zrdis potencialis amaRlebas emsa-

xureboda.

Sesavali


1. makroekonomikuri garemo

1.1 msoflio ekonomika

2008 weli gansakuTrebulad mZime aR-

moCnda msoflio ekonomikisaTvis. swored

saangariSgebo wels msoflioSi gamwvavda

globaluri finansuri krizisi da ekonomi-

kuri recesia, romelsac sul ufro metad

XX saukunis 30_iani wlebis did depresias

adareben.

ekonomikurma krizisma gansakuTrebiT

2008 wlis meore naxevarSi iCina Tavi da mso-

flios qveynebis umravlesobaSi ekonomikis

zrdis tempebi wlis me_3 da me_4 kvartaleb-

Si arsebiTad CamorCeboda wlis pirvel naxe-

varSi naCveneb analogiur maCveneblebs.

misi masStabidan gamomdinare, msoflio

finansuri krizisis Sedegebis gavlena sa-

qarTveloze mniSvnelovani iyo. es upirve-

les yovlisa, saerTaSoriso finansuri ba-

zrebidan kapitalis mozidvis garTulebaSi

gamoixateboda, radgan globalurma safi-

nanso krizisma mkveTrad SezRuda likvidu-

ri saxsrebis arseboba. 2008 wels msoflio

ekonomikis meore mniSvnelovani zegavle-

na saqarTvelos ekonomikaze msoflio sa-

saqonlo bazrebze moTxovnisa da fasebis

klebaSi mdgomareobda. aRniSnulma mniSvne-

lovnad Seamcira saqarTvelos saeqsporto

Semosavlebi. Tumca meore mxriv, msoflio

fasebis dacemam navTobze da sursaTze Se-

amcira zewola qveynis mimdinare angariSis

balansze.

msoflios udides ekonomikaSi, aSS_Si,

realuri mSp_is wliurma zrdam 1.1 pro-

centi Seadgina. amasTan, wlis ganmavlobaSi

ekonomikuri zrdis tempebi kardinalurad

gansxvavdeboda _ wina kvartalTan Sedare-

biT, 2008 wlis pirvel da meore kvartalSi

mSp_is zrda, Sesabamisad, 0.9 da 2.8 pro-

cents udrida, magram wlis bolo or kvar-

talSi analogiuri maCveneblebi, Sesabami-

sad, -0.5 da -6.2 procents gautolda.

aSS_is ekonomikis kleba uaryofiTad aisa-

xa msoflios sxva qveynebis ekonomikaze. 2008

wels ekonomikuri zrda evrozonis qveynebSi

1.0 procentamde Semcirda (2007 wlis Sesaba-

misi parametri 2.6 procents udrida).

msoflioSi sididiT meore ekonomikaSi, ia-

poniaSi, 2008 wlis ekonomikuri zrdis maCve-

nebelma -0.7 procenti Seadgina. mSp_is kle-

bas zedized 3 kvartalis ganmavlobaSi hqonda

adgili. gansakuTrebiT mZime me_4 kvartali

aRmoCnda, rodesac iaponiis ekonomikis zrdis

tempebi wina kvartalTan SedarebiT -12.7 pro-

cents gautolda. iaponiis ekonomikis zrdis

mamoZravebelma saeqsporto seqtorma wlis

meore naxevarSi aTwleulebis manZilze arna-

xuli masStabebiT iklo, rac ganpirobebuli

iyo msoflio moTxovnis dacemiT da ienis ga-

myarebiT ZiriTadi valutebis (pirvel rigSi,

aSS_is dolaris) mimarT.

2008 wels CineTis ekonomikis zrdis tem-

pebi SedarebiT Semcirda. 2007 wels naCve-

nebi 12_procentiani zrdis Semdeg CineTis

mSp saangariSo wels 9.0 procentiT gaizar-

da. ekonomikuri zrdis Seneleba aqac meore

naxevarSi moxda _ ukanaskneli aTwleulebis

manZilze CineTis mTavrobas pirvelad mou-

wia, ramdenime Tvis ganmavlobaSi gadarTu-

liyo maRal ekonomikur zrdasTan dakavSi-

rebuli sirTuleebidan (ekonomikis gadaxu-

reba) ekonomikuri recesiis problemebze.

ekonomikuri zrdis Seneleba aqac, pirvel

rigSi, Cinur eqsportze msoflio moTxovnis

SemcirebiT iyo gamowveuli.

makroekonomikuri garemo


msoflio safinanso krizisi mtkivneuli

aRmoCnda aRmosavleT evropisa da zogierTi

postsabWoTa qveynisaTvis. gansakuTrebiT aR-

saniSnavia baltiispireTis qveynebSi Seqmnili

urTulesi mdgomareoba. ucxoeTidan finan-

suri saxsrebis mozidvis garTulebam didi

dartyma miayena samive qveyanas, romlebic

ukanaskneli wlebis ganmavlobaSi iafi mozi-

duli saxsrebis, optimisturi molodinebisa

da xelSemwyobi fiskaluri politikis fonze

ekonomikuri zrdis maRal tempebs aRwevdnen.

Sedegad, 2008 wlis bolo kvartalSi baltiis-

pireTis samive qveyanam mSp_is zrdis uaryo-

fiTi tempebi aCvena, xolo wliuri gamoxatu-

lebiT mxolod litvam SeZlo dadebiTi zrdis

tempebis miRweva (3.1 procenti). baltiispire-

Tis qveynebma arCies SeenarCunebinaT fiqsire-

buli gacvliTi kursi ucvlel doneze, ramac

seqtember_noemberSi sagrZnoblad Seamcira

maTi rezervebi. kerZod, aRniSnul period-

Si latviis rezervebi daaxloebiT 1.8 mlrd

dolariT (30 procentiT), xolo litvis _ 1

mlrd dolariT (20 procentiT) Semcirda. maT

krizisis dasaZlevad gacvliTi kursis moqni-

lobis gamoyenebis nacvlad sxva zomebs mimar-

Tes (saxelmwifo xarjebis Semcireba, sajaro

seqtorSi momuSaveTa xelfasebis Sekveca da

sxv.). arsebiT ekonomikur problemebs aseve

waawydnen ungreTi, ukraina, somxeTi.

2008 wlis meore naxevari gansakuTre-

biT mZime aRmoCnda ruseTis ekonomikisa-

Tvis. energomatareblebze da liTonebze

msoflio fasebis dacemam, iseve rogorc

saqarTvelosTan agvistos omma, ruseTis

safondo birJis TiTqmis 4_jeradi dacema

ganapiroba da qveynidan kapitalis gadi-

neba da rezervebis mkveTri Semcireba ga-

moiwvia. Sedegad, bolo wlebSi daaxloebiT

8 procentis doneze miRweuli mSp_is rea-

luri zrdis tempebi 5.6 procentamde Sem-

cirda, xolo inflaciis wliurma tempma 13

procents gadaaWarba. ruseTis rezervebis

moculoba, romelmac TiTqmis 600 mlrd

dolars miaRwia 2008 wlis ivlisSi, swra-

fi tempiT mcirdeboda 8 agvistos Semdeg

da dekembris bolosaTvis daaxloebiT 430

mlrd dolari Seadgina.

rac Seexeba msoflio sasaqonlo bazrebs,

2007 wlis Sua periodamde inflaciuri zewo-

la momdinareobda navTobisa da metalebis

mxridan, rasac SemdgomSi sursaTis gavlena

miemata (pirvel rigSi, xorbali, simindi da

soia).

fasebis aRniSnuli zrda SesaZlebelia

aixsnas miwodeba_moTxovnis urTierTmoq-

medebiT. miwodebis faqtorebidan aRsaniS-

navia warmoebis xarjebis zrda da araxel-

sayreli amindi. moTxovnis mxridan Segvi-

Zlia gamovyoT msoflio ekonomikis zrda,

fulis miwodebis zrdis maRali tempebi,

sawvavis alternatiuli wyaroebis Zebna

(sasoflo_sameurneo produqtebis gamoye-

nebiT).

amasTan, 2008 wlis meore naxevridan, mso-

flio ekonomikuri krizisis dawyebasTan

erTad, sursaTis, liTonebisa da navTobis

fasebis klebis tendencia aRiniSneboda. gan-

sakuTrebiT aRsaniSnavia navTobze fasebis

dacema, romlis done 2008 wlis bolosaTvis

ivlisTan SedarebiT daaxloebiT samjer da

ufro metjer Semcirda.

diagrama 1.1 mSp-is realuri zrdis tempebi

0.0%2001 2002 2003 2004 2005 2006 2007 2008

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%



1.2 ekonomikis zrda

msoflioSi ganviTarebuli tendenciebis

msgavsad, saqarTvelos ekonomikis ganviTa-

reba 2008 wels ori gansxvavebuli periodi-

sagan Sedgeboda.

wlis pirvel naxevarSi grZeldeboda pir-

dapiri ucxouri investiciebis nakadebis da

safinanso saqmianobis zrdis maRali tempebis

SenarCuneba. Sedegad, qveynis mSp_is realur-

ma zrdam wlis pirvel da meore kvartalebSi

Seadgina, Sesabamisad, 9.1 da 8.3 procenti.

amasTan, 2008 wlis agvistos omisa da mso-

flio safinanso krizisis Sedegad saqar-

Tvelos ekonomikis ganviTareba arsebiTad

Seferxda wlis meore naxevarSi. pirdapiri

ucxouri investiciebi pirvel kvartalTan

SedarebiT daaxloebiT 3_jer Semcirda,

xolo sabanko seqtorSi Seqmnili damate-

biTi Rirebulebis orniSna zrdis tempebi

20_procentiani dacemiT Seicvala. am da

sxva faqtorebis Sedegad, mesame da meoTxe

kvartalSi mSp realur gamosaxulebaSi Sesa-

bamisad 3.9 da 2.5 procentiT Semcirda. 2008

wlis 6 Tvis Semdeg realuri mSp_is zrdis

8.7_procentiani maCvenebeli wlis bolosa-

Tvis 2.1 procentamde Semcirda.

2008 wels saqarTvelos ekonomikis dadebi-

Ti zrdis tempebis SenarCunebaSi mniSvnelo-

vani iyo sabiujeto dafinansebasTan dakavSi-

rebuli seqtorebis ganviTareba. saxelmwifo

mmarTvelobisa da ganaTlebis seqtorebSi

agreTve orniSna realuri zrda dafiqsirda.

am ori seqtoris zegavlenam mTlian ekonomi-

kur zrdaSi 1.7 procentuli punqti Seadgina.

2008 wlis meore naxevridan saqarTvelos

ekonomikisaTvis mniSvnelovan seqtorebSi

zrdis tempebis arsebiTi Senelebas qonda ad-

gili. xSir SemTxvevaSi am seqtorebSi uaryo-

fiTi zrdis tempebic ki dafiqsirda. am Tval-

sazrisiT gansakuTrebiT gamosayofia mSene-

blobis, transportis da gadamamuSavebeli

mrewvelobis seqtorebi. ukanasknel wlebSi

2007 2008

zrda zegavlena zrda zegavlena

soflis meurneoba, nadiroba

da satyeo meurneoba, meTe-

vzeoba da TevzWera

8.8% 1.0% -2.1% -0.2%

samTomopovebiTi mrewveloba 20.2% 0.2% 17.0% 0.2%

gadamamuSavebeli mrewveloba 13.7% 1.2% -1.0% -0.1%

eleqtroenergiis, bunebrivi

airisa da wylis warmoeba da

ganawileba

5.5% 0.2% -2.7% -0.1%

produqciis gadamuSaveba

Sinameurneobis mier15.6% 0.4% -4.6% -0.1%

mSenebloba 14.3% 1.0% -11.0% -0.7%

vaWroba; avtomobilebis,

sayofacxovrebo nawarmisa da

piradi sargeblobis sagnebis

remonti

11.8% 1.6% 10.4% 1.4%

sastumroebi da restornebi 13.5% 0.3% 5.0% 0.1%

transporti, damxare da

damatebiTi satransporto

saqmianoba

14.4% 1.1% -10.1% -0.8%

kavSirgabmuloba da fosta 9.3% 0.3% 14.5% 0.5%

safinanso saqmianoba 14.7% 0.3% 3.3% 0.1%

operaciebi uZravi qonebiT,

ijara da komerciuli momsa-

xureba

14.8% 0.5% 1.5% 0.0%

sakuTari sacxovrisis gamoye-

nebis pirobiTi renta5.6% 0.1% 3.1% 0.1%

saxelmwifo mmarTveloba 14.4% 1.2% 10.3% 1.3%

ganaTleba 7.6% 0.3% 13.7% 0.4%

janmrTelobis dacva da so-

cialuri momsaxureba11.1% 0.5% 5.9% 0.2%

sxva komunaluri, socialuri

da personaluri momsaxureba5.4% 0.2% -0.2% 0.0%

SinameurneobebSi daqiravebu-

li momsaxureba6.8% 0.0% 5.4% 0.0%

saqmian aqtivobaSi finansuri

Suamavlobis momsaxurebis

gamoyenebis arapirdapiri

Sefaseba

44.7% -0.3% 26.3% -0.3%

mSp sabaziso fasebSi 11.6% 10.1% 2.3% 2.0%

gadasaxadebi produqciaze 17.7% 2.3% 0.6% 0.1%

subsidiebi produqciaze 6.5% 0.0% 8.2% 0.0%

mSp sabazro fasebSi 12.4% 12.4% 2.1% 2.1%

cxrili 1.1

naCvenebi maRali zrdis tempebis Semdeg, 2008

wlis realurma zrdam am seqtorebSi Sesabami-

sad -11.0, -10.4 da -1.0 procenti Seadgina.

zemoaRniSnuli seqtorebis garda, mniS-

vnelovani iyo warmoebuli damatebiTi Ri-

rebulebis kleba soflis meurneobaSi (-2.1

procenti) da eleqtroenergiis, bunebrivi

airisa da wylis warmoeba_ganawilebaSi (-2.7

procenti).



mSp moTxovna

mSp_is xarjebis struqturis analizidan

Cans, rom 2008 wels mSp_is zrda saboloo

moxmarebis xarjze moxda. xarjebma mTlian

moxmarebaze mSp_is TiTqmis 100 procen-

ti Seadgina, xolo wina welTan SedarebiT

mTliani moxmarebis zrdam 20.2 procents

udrida. mTlian moxmarebaSi ZiriTadi nawi-

li Sinameurneobebze modis, romelTa mox-

mareba daaxloebiT 16 procentiT gaizarda.

saxelmwifo moxmarebaSi orjer ufro maRa-

li zrda dafiqsirda _ man daaxloebiT 32

procentiT moimata 2007 wlis analogiur

maCvenebelTan SedarebiT.

rogorc ukve aRiniSna, 2008 wlis meore

naxevarSi pirdapiri ucxouri investiciebis

mkveTr klebas qonda adgili, ramac arsebiTi

gavlena moaxdina mTliani kapitalis formi-

rebis komponentze. 2008 wels aRniSnulma

komponentma 5148.8 mln lari Seadgina, rac

5.5 procentiT naklebia wina welTan Sedare-

biT. Sedegad, mTliani kapitalis formire-

bis xvedriTi wili erT welSi 32 procenti-

dan 27 procentamde Semcirda.

2008 wlis savaWro deficiti mniSvne-

lovnad gaizarda. wlis meore naxevridan

savaWro brunvis Semcirebas qonda adgi-

li, magram sabolood wliuri savaWro

deficiti daaxloebiT 1 mlrd lariT (21

procentiT) gaizarda. eqsportis zrda mi-

nimaluri aRmoCnda _ is mxolod 166 mln

lariT (gaizarda da 5 469.1 mln lari Se-

adgina. importis zrda gacilebiT ufro

STambeWdavi iyo _ wlis meore naxevarSi

212 mln lariT Semcirebis miuxedavad,

wliurma zrdam 1 160 mln lari Seadgina

da daaxloebiT 11 mlrd lars gautolda.

amgvarad, wlis pirvel naxevarSi gansaku-

TrebiT didi savaWro deficitis Sedegad,

misi xvedriTi wili mSp_Si wina welTan Se-

darebiT mainc gaizarda 28.2 procentidan

29.0 procentamde.

1.3 samomxmareblo fasebis cvlileba

iseve rogorc wina wlebSi 2008 welsac sa-

qarTvelos erovnuli bankis ZiriTadi amo-

cana iyo qveyanaSi fasebis stabilurobis

uzrunvelyofa. miuxedavad imisa, rom wlis

pirveli naxevris ganmavlobaSi wliuri in-

flaciis maRali maCvenebeli fiqsirdeboda,

2008 wlis meore naxevridan inflaciis ma-

Cvenebelma kleba daiwyo da wlis bolos 5.5

procentze Camovida. saSualo wliuri in-

flacia 2008 wels 10 procents Seadgens.

2008 wlis ganmavlobaSi inflacias sakmaod

didi meryeoba axasiaTebda. yvelaze maRal

niSnuls inflaciam agvistos TveSi miaRwia _

wliuri 12.8%, xolo Semdgom periodSi Tan-

daTanobiT Semcirda wlis bolos 5.5 procen-

tamde. wlis ganmavlobaSi fasebis dinamikaze

Zlieri iyo egzogenuri faqtorebis gavlena.

wlis pirvel naxevarSi maRali inflacia Zi-

riTadad sabaziso efeqtis Sedegi iyo, ker-

Zod, 2007 wlis ganmavlobaSi saqarTvelos sa-

momxmareblo kalaTis zogierT mniSvnelovan

komponentze (gazi bunebrivi, xorblis TeTri

puri, mzesumziris zeTi, civi wylis gadasaxa-

di, qalaqis SigniT mgzavroba) moxda fasebis

erTjeradi mateba, ris Sedegadac momdevno

12 Tvis ganmavlobaSi wliuri inflaciis ma-

Cvenebeli gaizarda. 12 Tvis gasvlis Semdeg

ki maTi gaZvirebis Sedegad miRebuli efeqti

aRar aisaxeba wliur inflaciaze, Sesabami-

sad, 2008 wlis meore naxevridan inflaciis

wliuri indeqsi Semcirda. amas Tan daerTo

wlis meore naxevridan msoflio ekonomikuri

krizisis fonze saerTaSoriso bazrebze fa-

sebis vardna, rac aseve aisaxa saqarTvelos

samomxmareblo kalaTaze da wliuri infla-

ciis maCvenebeli kidev ufro Semcirda. ker-

Zod, fasebis mniSvnelovani kleba dafiqsirda

benzinze, mzesumziris zeTze. 2008 wlis sa-

momxmareblo fasebis cvlilebaze aseve mniS-

vnelovani iyo agvistos saomari moqmedebebis

gavlena. qveyanaSi Seqmnili saomari mdgoma-



reobis Sedegad produqciis erTi regionidan

meoreSi transportirebis garTulebam da ba-

zarze aRniSnuli saqonlis miwodebis simci-

rem zogierT sasoflo_sameurneo saqonelze

fasebis mkveTri zrda gamoiwvia, Tumca mdgo-

mareobis stabilizaciasTan erTad fasebi

TandaTanobiT daubrundnen adrindel niS-

nuls. yvelaferi zemoTaRniSnulis Sedegad

wlis bolosTvis wliuri inflacia erovnuli

bankis mier prognozirebulze (8 procenti)

naklebi iyo _ 5.5 procenti.

2008 wlis ganmavlobaSi SedarebiT maRa-

li inflacia fiqsirdeboda saqarTvelos

ZiriTad savaWro partnior qveynebSi. wlis

ganmavlobaSi mTliani importis 40 procent-

ze meti TurqeTze, ruseTze, ukrainaze da

azerbaijanze modioda. aRniSnul qveynebSi

fasebis dinamikaze sakmaod mniSvnelovani

gavlena iqonia msoflio ekonomikuri krizi-

sis Sedegad saerTaSoriso bazrebze fasebis

vardnam klebis mimarTulebiT, Tumca wlis

bolosTvis saqarTvelosTan SedarebiT maRa-

li inflaciis maCvenebeli dafiqsirda. ker-

Zod, inflacia TurqeTSi 10.1 procents, ru-

seTSi _ 13.3 procents, ukrainaSi _ 22.3 pro-

cents, xolo azerbaijanSi _ 15.3 procents

Seadgens. aRsaniSnavia, rom saqarTveloSi

samomxmareblo kalaTis sakmaod mniSvnelo-

vani nawili importirebuli produqciisgan

Sedgeba. aqedan gamomdinare partnior qvey-

nebSi fasebis dinamika saqarTveloSi infla-

ciis angariSgasawevi faqtoria.

sainteresoa agreTve savaWro1 da arasa-

vaWro saqonlis fasebis dinamikaze dakvir-

veba. bolo ramdenime wlis ganmavlobaSi

fasebi arasavaWro saqonelze ufro swrafi

tempebiT izrdeboda, vidre savaWro saqo-

nelze, rac damaxasiaTebelia ganviTareba-

di qveynebisaTvis. bolo ramdenime wlis

ganmavlobaSi kapitalis mniSvnelovani mo-

culobebiT Semodinebis Sedegad gaizarda

mosaxleobis gankargvadi Semosavali da

Sedegad erToblivi moTxovna, rac sxva

Tanabar pirobebSi iwvevs arasavaWro saqo-

nelze fasebis ufro swraf zrdas vidre

savaWro saqonelze, radganac savaWro sa-

qonlis fasebs ZiriTadad msoflio bazre-

bze arsebuli tendenciebi gansazRvravs,

xolo iseTi mcire ekonomikis gazrdil mo-

Txovnas, rogoric saqarTveloa, msoflio

fasebze zegavlenis moxdena ar SeuZlia,

arasavaWro saqonlis fasebze ki zewola

ufro Zlieria.

2008 wlis ganmavlobaSi klebis tendecia

axasiaTebda wliuri sabazo inflaciis ma-

Cveneblebs. wlis bolosaTvis ori da erTi

standartuli gadaxris farglebSi myofi

produqtebisaTvis sabazo inflaciis maCve-

neblebma Sesabamisad 4.4 da 3.4 procenti

Seadgines. sabazo inflaciis dinamika ukeTe-

sad aRwers inflaciis zogad tendencias da

nawilobriv gamoricxavs erTjerad da sezo-

nur faqtorebs.

calkeuli sasaqonlo jgufebis mixedviT

fasebis cvlilebis ganxilva gviCvenebs, rom

2008 wlis ganmavlobaSi fasis 2.6-procen-

tiani Semcirebaa dafiqsirebuli sasaqonlo

jgufze „tansacmeli da fexsacmeli“, xolo

„alkoholur sasmelebsa da Tambaqoze“ fase-

bi 0.5 procentiT Semcirda. „kavSirgabmulo-

bis“ seqtorze fasebi 4.4 procentiT gaizar-

da, sasaqonlo jgufze „sacxovrebeli saxli,

wyali, eleqtroenergia, airi da saTbobis

sxva saxeebi“ fasebma 3.9 procentiT moima-

ta, „saojaxo nivTebze“ fasebi 7.4 procen-

tiT gaizarda, sasaqonlo jgufze „sursaTi

da ualkoholo sasmelebi“ fasebma 5.5 pro-

centiT moimata, transportze2 fasebma 0.5

1 saqoneli da momsaxureba, romlis realizaciac SesaZlebelia warmoebis adgilidan moSorebiT.

2 igulisxmeba ara marto saqalaqo avtobusebiTa da metropoliteniT mgzavrobis fasebi, aramed transportze fasebis saSualo

cvlileba. maT Soris, sxva tipis transportzec, mag., qalaqis SigniT taqsi, mikroavtobusi, sagareubno da saqalaqTaSoriso

transporti da a. S.



procentiT moimata. fasebis mniSvnelovani

zrda dafiqsirda sasaqonlo jgufze „janmr-

Telobis dacva“ (21.5 procenti), ukanasknel

SemTxvevaSi umTavresi wvlili noembris Tve-

Si medikamentebis gaZvirebam Seitana.

saqonlis moxmarebis xangrZlivobis mi-

xedviT fasebis cvlilebis ganxilva gviCve-

nebs, rom 2008 wlis ganmavlobaSi yvelaze

metad wliuri inflaciis maCvenebeli ma-

Ralia momsaxurebaze _ 7.7 procenti, xan-

mokle moxmarebis saqonlisaTvis wliuri

inflaciis maCvenebeli 5.4 procents Sead-

gens. xangrZlivi moxmarebis saqonelze 2008

2006 wlis

dekembris

wonebi

dek-08/dek-07 ian08-dek08/ian07-dek07

inflacia wvlili inflacia wvlili

sul 100.0% 5.5% 5.5% 10.0% 10.0%

sursaTi da ualkoholo sasmelebi 44.3% 5.5% 2.5% 12.2% 5.4%

sursaTi 43.0% 5.4% 2.4% 12.4% 5.4%

puri da purproduqtebi 12.2% 4.6% 0.7% 21.3% 2.7%

xorci da xorcis produqtebi 6.6% 11.3% 0.7% 10.3% 0.7%

Tevzeuli 1.1% 9.9% 0.1% 0.9% 0.0%

rZe, yveli da kvercxi 5.2% -2.5% -0.1% 10.0% 0.5%

zeTi da cximi 3.5% 3.0% 0.1% 27.8% 1.0%

xili, yurZeni 2.3% 38.4% 1.4% 27.4% 1.1%

bostneuli, baRCeuli, kartofilis da sxva bolqvovanebis CaTvliT 8.8% -5.9% -0.4% -6.8% -0.6%

Saqari, jemi, Tafli, vaJinebi, Sokoladi, sakonditro nawarmi 2.7% 7.5% 0.2% -1.0% 0.0%

kvebis sxva produqtebi 0.6% 7.7% 0.0% 5.4% 0.0%

ualkoholo sasmelebi 1.3% 8.5% 0.1% 4.6% 0.1%

alkoholuri sasmelebi, Tambaqo 3.7% -0.5% 0.0% 0.0% 0.0%

tansacmeli da fexsacmeli 5.0% -2.6% -0.1% -4.1% -0.2%

sacxovrebeli saxli, wyali, eleqtroenergia, airi da saTbobis

sxva saxeebi10.3% 3.9% 0.4% 9.5% 1.1%

aveji, saojaxo nivTebi da mowyobiloba, saxlis movla-SekeTeba 3.7% 7.4% 0.3% 12.6% 0.5%

janmrTelobis dacva 8.0% 21.5% 1.7% 14.9% 1.2%

transporti 9.0% 0.5% 0.0% 15.4% 1.4%

kavSirgabmuloba 4.4% 4.4% 0.2% 3.9% 0.2%

dasveneba, garToba da kultura 2.7% 2.0% 0.1% 4.8% 0.1%

ganaTleba 3.5% -0.4% 0.0% 0.7% 0.0%

sastumroebi, kafeebi da restornebi 2.4% 8.4% 0.2% 4.9% 0.1%

sxvadasxva saqoneli da momsaxureba 3.2% 8.9% 0.3% 6.8% 0.2%

xanmokle moxmarebis saqoneli 68.0% 5.4% 3.7% 11.0% 7.5%

saSualo xangrZlivobis moxmarebis saqoneli 6.5% -1.6% -0.1% -1.4% -0.1%

xangrZlivi moxmarebis saqoneli 1.9% 0.7% 0.0% -0.3% 0.0%

momsaxureba 23.6% 7.7% 1.9% 10.6% 2.6%

cxrili 1.3.1 inflaciis (sfi) maCveneblebi calkeuli komponentebis mixedviT (procenti), maTi wona samomxmareblo kalaTaSi

(procenti) da zegavlena sfi-ze (procentuli punqti).

wyaro: statistikis departamentidiagrama 1.3.1 wliuri sfi da sabazo inflacia (2006 wlis dekembridan moqmedi

samomxmareblo kalaTis 282 komponentis mixedviT)3

0.00

01.0

5

05.0

5

09.0

5

01.0

6

05.0

6

09.0

6

01.0

7

05.0

7

09.0

7

01.0

8

05.0

8

09.0

8

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

sabazo inflacia *

sabazo inflacia **

inflacia

wyaro: statistikis departamenti da erovnuli bankis gaTvlebi

3 * erTi standartuli gadaxris farglebSi moxvedrili produqtebis mixedviT.

** ori standartuli gadaxris farglebSi moxvedrili produqtebis mixedviT.



wlis ganmavlobaSi fasebi 0.7 procentiT

gaizarda, xolo saSualo xangrZlivobis

moxmarebis saqonelze fasebis 1.6 procen-

tiani kleba dafiqsirda.

1.4 saxelmwifo finansebi

2008 wels saqarTvelos ekonomikaze didi

gavlena iqonia qveynis sabiujeto politi-

kam, sagadasaxado da sabaJo administrirebis

gaumjobesebam, ramac 2008 wels qveynis biu-

jets dagegmilze meti Semosavali moutana.

Sesabamisad, gaizarda xarjebic, rac mTeli

rigi prioritetuli mimarTulebebis dasa-

finanseblad warimarTa.

2008 wels mniSvnelovnad gaizarda gadasa-

xadebis mSp_Tan Sefardebis maCvenebeli, ro-

melmac 21.6 procentidan 24.9 procentamde

moimata.

2008 wlis naerTi biujetis Semosavleb-

ma da grantebma operatiuli informaciis

Tanaxmad 6.6 miliardi lari Seadgina, rac

0.7 miliardi lariT metia vidre 2007 wels.

saxelmwifo biujetis Semosavlebma da gran-

tebma 5.5 miliardi lari Seadgina, rac 1.2

miliardi lariT metia 2007 wlis faqtobriv

maCvenebelze.

sagadasaxado Semosavlebis struqturaSi

arapirdapir gadasaxadebs ufro didi wili

57 procenti ukavia, vidre pirdapir gadasa-

xadebs, Tumca 2008 wels pirdapiri gadasa-

xadebis zrdis tempi (70 procenti) aWarbeb-

da arapirdapiri gadasaxadebis zrdis temps

(10 procenti), rac imaze unda miuTiTebdes,

rom gadasaxadebis simZime ufro metad ara

momxmareblebze, aramed mwarmoeblebze ga-

davida.

Semosavlebis zrdas xarjebis mniSvnelo-

vani matebac moyva. kerZod, naerTi biuje-

tis xarjebi operatiuli informaciiT 1.2

miliardi lariT gaizarda da 7.2 miliar-

diagrama 1.3.2inflacia savaWro da arasavaWro saqonelze4

savaWro da arasavaWro saqonlis fasebis indeqsis dinamika 2006=100

wyaro: statistikis departamenti da erovnuli bankis gaTvlebi

0.600012

.03

03.0

4

03.0

5

03.0

6

03.0

7

03.0

8

06.0

4

06.0

5

06.0

6

06.0

7

06.0

8

09.0

4

09.0

5

09.0

6

09.0

7

09.0

8

12.0

4

12.0

5

12.0

6

12.0

7

12.0

8

0.7000

0.8000

0.9000

1.0000

1.1000

1.2000

1.3000

savaWro saqoneli arasavaWro saqoneli

4 importuli da adgilobrivi saqonlis inflacia iTvleba erovnu-

li bankis mier statistikis departamentidan miRebuli samomxmare-

blo kalaTis calkeuli komponentebis indeqsebis mixedviT.

diagrama 1.3.3 wliuri inflaciis maCveneblebis cvlileba sxvadasxva

xangrZlivobis moxmarebis saqonlisa da momsaxurebisaTvis

xanmokle moxmarebis saqoneli

saSualo xangrZlivobis moxamrebis saqoneli

xangrZlivi moxmarebis saqoneli

momsaxureba

-5.0%

0.0%

5.0%

10.0%

20.0%

15.0%

12.0

7

01.0

8

02.0

8

03.0

8

04.0

8

05.0

8

06.0

8

07.0

8

08.0

8

09.0

8

10.0

8

11.0

8

12.0

8

wyaro: statistikis departamenti

diagrama 1.3.4 wliuri inflaciis dinamika

1996-2008 ww.

-10

0

10

20

30

40

50

60

70

01.9

6

01.9

8

01.0

0

01.0

2

01.0

4

01.0

6

01.0

8

09.9

6

09.9

8

09.0

0

09.0

2

09.0

4

09.0

6

09.0

8

05.9

7

05.9

9

05.0

1

05.0

3

05.0

5

05.0

7

wyaro: statistikis departamenti



di lari Seadgina. wina welTan SedarebiT

gaizarda saxelmwifo biujetis xarjebic

1.7 miliardi lariT da mTlianobaSi 6.7

miliardi lari Seadgina, rac wlis sabo-

loo gegmis 96 procentia. 2008 wels sa-

xelmwifo xarjebis Tanafardobam mTlian

Sida produqtTan 35 procenti Seadgina.

ukanasknel periodSi aRniSnuli maCvene-

blis mzardi tempi gavlenas axdenda Sida

moTxovnis formirebaze da fasebis zrdis

gamomwvev damatebiT faqtorad gvevline-

boda.

2008 wlis naerTi biujetis prioritetad

SeiZleba dasaxeldes Tavdacva da saerTo

daniSnulebis saxelmwifo momsaxurebis ga-

weva.

saxelmwifo biujetis proficitis zRvru-

li moculoba Tavdapirvelad 16 milioni

lariT ganisazRvra, xolo Semdeg Seicvala

506 milioni lari deficitiT, magram faqto-

brivad deficitma 358 milioni lari Seadgi-

na, rac Semosavlebis umniSvnelo zrdiTa da

dagegmilTan SedarebiT gazrdili xarjebiT

aixsneba. aqve unda aRiniSnos, rom privati-

zaciidan miRebuli Tanxebi aRiricxeba Se-

mosavalSi, rac Tavisi SinaarsiT, moneta-

ruli politikis miznebidan gamomdinare,

biujetis deficitis dafinansebis wyaroa.

privatizaciidan miRebuli Semosavlebis

gamoklebiT 2008 wels biujetis deficitma

927 milion lars miaRwia, rac mSp_sTan mi-

marTebaSi 5 procents Seadgens.

2008 wlis ganmavlobaSi mTavrobis depo-

zitebze ricxuli naSTi 433 milioni lariT

gaizarda. 2008 wels sagareo wyaroebidan,

kerZod, msoflio bankisa da SeRavaTiani

sainvesticio kreditebis saxiT miRebuli

iqna 350 milioni lari, xolo saxelmwifo

fasiani qaRaldebis (evro bondebi) reali-

zaciidan miRebulma Tanxebma 720 mln lari

Seadgina.

2008 wels saqarTvelos saxelmwifo da sa-

diagrama 1.4.1 naerTi biujetis sagadasaxado Semosavlebis Sefardeba mSp-sTan

2000-2008 ww.

0%

5%

10%

15%

25%

30%

20%

2000 2001 2002 2003 2004 2005 2006 2007 2008

12.3% 12.5% 12.7% 12.0%

15.6%17.1%

19.2%21.6%

24.9%

diagrama 1.4.2 naerTi biujetis sagadasaxado Semosavlebi saxeebis mixedviT

dRg

mogebis gadasaxadi

saSemosavlo gadasaxadi

qonebis gadasaxadi

aqcizi

sabaJo gadasaxadi

sxva

44%

1%11%

3%

27%

12% 2%

diagrama 1.4.3saxelmwifo biujetis xarjebi da maTi Tanafardoba mSp-Tan

_ 10%

1000.00 15%

2000.00 20%

3000.00 25%

5000.00 35%

6000.00 40%

4000.00 30%

2004 2005 2006 2007 2008

saxelmwifo biujetis xarjebi Tanafardoba



xelmwifo garantiiT aRebuli sagareo vali

1.265 miliardi lariT gaizarda da 31 dekem-

bris mdgomareobiT Seadgina 3.695 miliardi

lari. mniSvnelovnad Semcirda vali Tur-

qeTTan da evrokavSirsa da amerikasTan, ma-

gram gaizarda savaluto fondTan, msoflio

banksa da aziis ganviTarebis bankTan, xolo

qveynebidan iaponiasa da CineTTan. 2008 wels

sagareo valma saqarTvelos mSp_is mimarT

19 procenti Seadgina, nacvlad 2007 wlis 17

procentisa, rac ufro mniSvnelovani maCve-

nebelia vidre sagareo valis absoluturi

monacemebi. rogorc grafikidan Cans saga-

reo valis wili mSp_Si wlebis ganmavloba-

Si mcirdeba, garda 2008 wlisa da bolo 10

wlis ganmavlobaSi 39 procentuli punqtiT

Semcirda. ZiriTadad am maCveneblis Semci-

reba sagareo valis maCveneblTan SedarebiT

mSp_s zrdis tempis ufro maRalma donem ga-

moiwvia.

1.5 ekonomikis sagareo seqtori da sa-

gadasaxdelo balansi

2008 wels sagadasaxdelo balansis mimdi-

nare angariSis deficitma 2850.5 mln aSS do-

lari Seadgina, rac mSp_s 22 procentia da

42 procentiT aWarbebs gasuli wlis analo-

giur maCvenebels. amasTan aRsaniSnavia, rom

2008 wlis mimdinare angariSis deficiti

araTu srulad dafinansda, aramed adgili

qonda sarezervo aqtivebis zrdas.

2008 wlis mimdinare angariSis deficits,

kvlav, mniSvnelovan wilad, saqonliT saga-

reo vaWroba gansazRvravda. saqonlis eqs-

portma 2008 wels 2428,0 mln aSS dolari Se-

adgina, rac 16,3 procentiT metia 2007 wlis

eqsportis maCvenebelze. xolo importma

_6261,2 mln aSS dolari, anu 25,6 procentiT

meti gasuli wlis Sesabamis maCvenebelze.

importirebuli saqonlis 39 procen-

ti samomxmareblo saqonelia, 16 procenti

_ sainvesticio da 45 procenti Sualedu-

subsidireba da grantebi

procentebis gadaxda

kapitaluri xarjebi

dakrediteba

valebis dafarva

Sromis anazRaureba

socialuri uzrunvelyofa

saqoneli da momsaxureba

sxva xarjebi

diagrama 1.4.4naerTi biujetis gadasaxdelebi saxeebis mixedviT

2008 w.

21%3%1%

14%

19%

22%

2%

5%

13%

diagrama 1.4.5saxelmwifo biujetis deficiti da mSp-sTan Tanafardoba

0 0%

1001%200

2%300

3%500

5%

600

700

800

900

1000 6%

400

4%

2004 2005 2006 2007 2008

saxelmwifo biujetis deficiti Tanafardoba

0%

10%

20%

30%

50%

70%

60%

40%

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

58% 56%51% 50% 49%

45%

34%

27%21%

17%19%

diagrama 1.4.6 sagareo valis wili mTlian Sida produqtSi

1998-2008 ww.



ri moxmarebis saqoneli. saqonlis importis

aRniSnuli ganawileba sakmaod stabiluria

bolo wlebis ganmavlobaSi. Sualeduri mo-

xmarebis saqonelSi wamyvani adgili uWiravs

navTobproduqtebsa da bunebriv airs. agre-

Tve, mniSvnelovani wili aqvs samSeneblo ma-

salebs, xorbalsa da fqvils. saqarTvelos

eqsportis 50 procenti samrewvelo saqon-

lisgan Sedgeba, raSic wamyvani adgili fe-

roSenadnobebs, azotovan sasuqebsa da avto-

mobilebis reeqsports uWiravs.

2008 wlis pirveli da meore naxevris

Sedegebi mkveTrad gansxvavebul suraTs

aCvenebs. sagareo vaWrobaSi gansakuTrebiT

maRali zrdis tempi 2008 wlis pirvel naxe-

varSi dafiqsirda. I da II kvartalebSi sava-

Wro brunva wina wlis Sesabamis periodebTan

SedarebiT, Sesabamisad, 37 da 49 procen-

tiT iyo gazrdili. 2008 wlis III kvartal-

Si, agvistos omis Sedegad, aRniSnuli ma-

Cvenebeli 18 procentamde Semcirda, xolo

wina kvartalTan SedarebiT 13 procentiani

kleba dafiqsirda. IV kvartalSi msoflioSi

ganviTarebuli finansuri krizisis Sedegebi

aisaxa saqarTvelos sagareo vaWrobaze, ris

gamoc savaWro brunva wina wlis Sesabamis

periodTan SedarebiT 19 procentiT, xolo

wina kvartalTan SedarebiT 15 procentiT

Semcirda.

2008 wlis IV kvartalSi saqonlis impor-

ti, wina wlis Sesabamis periodTan Sedare-

biT 17 procentiT, xolo wina kvartalTan

SedarebiT 7 procentiT Semcirda. importis

SemcirebaSi wamyvani gaxda navTobproduqte-

bze fasebis kleba. amavdroulad, saqonlis

eqsportze klebis gacilebiT maRali tempi

dafiqsirda vidre importze _ 30 procen-

ti wina wlis Sesabamis periodTan SedarebiT.

eqsportis kleba ganpirobebuli iyo Ziri-

Tad saeqsporto saqonelze _ Sav da ferad

liTonebze fasebis vardniT saerTaSoriso

bazarze, ris gamoc aRniSnuli produqciis

diagrama 1.5.1 mimdinare angariSis deficiti da ucxouri kapitalis Semodineba

(% mSp-sTan), 2004-2008

-30.0

-20.0

-10.0

0.0

20.0

30.0

10.0

2004 2005 2006 2007 2008

-6.7

-10.9-14.9

-19.6-22.3

22.5

10.2 12.4

19.8

23.4

CAD FCI

I 2008 II 2008 III 2008 IV 2008 2008

eqsporti 47.3% 45.8% 37.6% -29.8% 21.5%

importi 34.4% 49.5% 13.6% -16.8% 16.2%

savaWro deficiti 31% 51% 6% -13% 14.5%

cxrili 1.5.1 wliuri zrdis tempebi

diagrama 1.5.2 ZiriTadi saeqsporto sasaqonlo jgufebi

2006-2008 ww. mln aSS dolari

2006 2007 2008

0

50

100

150

300

250

200

feroSenadnobebi

Savi l

iTonebis

jarTi

spil

enZis m

adnebi

da k

oncentratebi

msubuqi

avtomobil

ebi

mineral

uri

sasuqebi

oqro

portl

andcementi

eTil

is spirti

Rvino

Txil

i da kakal

i

rkinigzis

l

okomotivebi

mineral

uri wyl

ebi



eqsporti Semcirda, rogorc RirebulebiT,

aseve moculobiT gamoxatulebaSi.

ZiriTadi saeqsporto produqciis stru-

qturaSi 2007-2008 wliuri monacemebis mixed-

viT mniSvnelovani cvlilebebi ar momxdara.

2008 wels saqarTvelos umsxvilesi savaWro

partniori qveynebi eqsportis mixedviT iyv-

nen: TurqeTi, azerbaijani, ukraina, kanada,

somxeTi, bulgareTi, aSS, meqsika, gaerTiane-

buli samefo da safrangeTi. aRniSnul qvey-

nebze mTliani eqsportis 80 procenti mo-

dioda. ruseTis federaciam saqarTvelodan

eqsportirebuli saqonlis mixedviT 2008

wels meTormete adgilze gadainacvla.

cxrili 1.5.2umsxvilesi saeqsporto saqonlis ganawileba importiori qveynebis mixedviT (%)

diagrama 1.5.3 saqarTvelos ZiriTadi savaWro partniori qveynebi eqsportis

mixedviT. mln aSS dolari

2006 2007 2008

0

50

100

150

300

250

200

feroSenadnobebi

Savi l

iTonebis j

arTi

spil

enZis m

adnebi

msubuqi a

vtomobil

ebi

mineral

uri s

asuqebi

oqro

portl

andcementi

eTil

is s

pirti

Rvino

Txil

i d

a k

akal

i

rkinigzis l

okomotivebi

mineral

uri w

yl

ebi

xvedriTi wili eqsportSi 17.8 8.6 7.9 7.6 7.0 6.7 5.3 3.9 2.5 2.1 2.1 2.1

aSS 26.8 0.3 - 0.0 14.4 - - 0.0 4.0 0.0 - 3.1

TurqeTi 25.9 88.5 - 8.2 6.2 - 0.0 - 0.4 0.6 - -

meqsika 19.8 - - - - - - - - - - -

kanada 11.7 - - - - 99.9 - - 0.3 - - 0.3

ukraina 9.5 - - 3.1 - - - - 51.6 8.9 70.4 48.1

safrangeTi 3.1 - - 0.0 27.9 - - 0.0 0.4 3.0 - 0.0

arabTa gaerTianebuli saamiroebi 1.3 1.0 - 1.5 - - - - 0.1 0.8 - 0.2

ruseTis federacia 0.9 - - 0.2 - - - 0.7 0.4 2.3 6.7 -

avstria 0.6 - - - - - - - - 0.8 - -

belarusi 0.2 - - 0.0 - - - 6.8 9.0 0.5 - 1.8

azerbaijani 0.1 - - 47.2 0.9 - 99.3 10.8 2.0 3.6 - 8.6

yazaxeTi 0.1 - - 0.5 - - 0.7 9.8 10.0 0.5 - 14.5

espaneTi 0.0 1.2 7.6 - 6.3 - - - 0.0 4.6 - -

somxeTi 0.0 - - 30.7 5.3 0.1 - 7.5 0.4 1.6 22.9 0.5

samxret afrika 0.0 - - - - - - - - - - -

albaneTi - 1.0 - - - - - - - - - -

belgia - - - 5.1 - - - 0.0 0.2 1.9 - 0.0

belizi - 0.3 - - - - - - - - - -

brazilia - - - - 8.4 - - - - - - -

bulgareTi - - 76.2 0.2 3.8 - - 0.4 0.0 3.3 - 0.0

danarCeni qveynebi - 7.6 16.2 3.3 26.7 - 0.0 7.8 21.3 67.6 - 22.9

sul 100 100 100 100 100 100 100 100 100 100 100 100


TurqeTi

azerbaijani

ukraina

kanada

somxeTi

bul

gareTi

aSS

meqsika

gaerTianebul

i

samefo

safrangeTi


2008 wlis ganmavlobaSi mTlianma regis-

trirebulma importma 6058.1 mln aSS dolari

Seadgina. 2008 wels adgili hqonda bunebrivi

airis importis Semcirebas, rogorc moculo-

biT, aseve raodenobriv gamoxatulebaSi. sxva

mxriv, saqarTveloSi importirebuli produ-

qciis struqturaSi mniSvnelovani cvlilebe-

bi ar dafiqsirda. importirebul saqonelSi

wamyvan poziciebs kvlav energomatareblebi

da msubuqi avtomobilebi ikavebs. importis

mateba pirveli sami kvartalis xarjze moxda,

xolo IV kvartalSi kleba dafiqsirda.

2008 wels saqarTvelos umsxvilesi sava-

Wro partniori qveynebi importis mixedviT

iyvnen: TurqeTi, ukraina, azerbaijani, ger-

mania, ruseTis federacia, CineTi, arabTa ga-

erTianebuli saamiroebi, aSS, italia, Turq-

meneT. aRniSnul qveynebze mTliani importis

78 procenti modis. 2008 wels ruseTis fede-

raciidan importi wina wlis Sesabamis perio-

dTan SedarebiT 26 procentiT Semcirda.

fuladi gzavnilebis dinamika 2000_2008 ww

mimdinare transfertebi, kerZod ki misi

mniSvnelovani Semadgeneli nawili _ fula-

di gzavnilebi, kvlav rCeba ara marto saga-

dasaxdelo balansis, aramed qveynis samomx-

mareblo bazris koniunqturis ganmsazRvrel

erT_erT mniSvnelovan faqtorad. 2008 wlis

ganmavlobaSi swrafi fuladi gzavnilebiT

gadmoricxvebi 2007 wlis Sesabamis perio-

dTan SedarebiT 16 procentiT gaizarda.

2008 wels kapitalisa da finasuri angari-

Sis dadebiTma saldom 2879,0 mln aSS dola-

ri Seadgina, rac 41,5 procentiT metia 2007

wlis analogiur maCvenebelze. aqedan, mateba

finansur angariSze modis 867,4 mln aSS do-

lari, xolo kapitalis angariSSi adgili qon-

da klebas 22,8 mln aSS dolariT. finansuri

angariSi 2008 wels 45,5 procentiT gaizar-

da da 2774,2 mln aSS dolari Seadgina, rac

ucxouri investiciebis, gansakuTrebiT por-

diagrama 1.5.4 umsxvilesi saimporto saqonlis moculobis dinamika

2006 2007 2008

0

100

200

300

400

900

600

700

800

500

diagrama 1.5.5saqarTvelos ZiriTadi savaWro partniori qveynebi importis mixedviT.

2006 2007 2008

0100

200

300

400

500

600

1000

800

900

700

diagrama 1.5.6 fuladi gzavnilebis dinamika

0

200

400

600

1000

1200

800

2000 2001 2002 2003 2004 2005 2006 2007 2008Caricxva gadaricxva


navTobproduqtebi

TurqeTi

ukraina

azerbaijani

germania

ruseTis

federacia

fineTi

arabeTis

gaerTianebul

i

saemiroebi

aSS

ital

ia

TurqmeneTi

msubuqi

avtomobil

ebi

navTobis

airebi

samkurnal

o

saSual

ebebi

gadamcemi

aparatebi

wnel

ebi naxSirbadi-

ani fol

adisgan

xorbal

i da

mesl

ini

gamomTvl

el

i

manqnanebi

fqvil

i

manganumi

Saqari

Tambaqos

nawarmi


tfelisa da sxva investiciebis seriozuli

zrdiT aris ganpirobebuli. aseve, saangariSo

periodSi sagadasaxdelo balansis mxardasa-

Werad saerTaSoriso savaluto fondidan mi-

Rebuli iqna 256,8 mln aSS dolari.

saqarTveloSi ganxorcielebuli pirdapiri

ucxouri investiciebi 2008 wlis pirvel na-

xevarSi, gasuli wlis analogiur periodTan

SedarebiT 35,5 procentiT gaizarda da 942.0

mln aSS dolari Seadgina. wlis meore naxevarSi

pirdapiri investiciebis moculoba mkveTrad

Semcirda (67,9 procentiT, wina wlis Sesabamis

periodTan SedarebiT)) da 338.3 mln aSS do-

lari Seadgina. 2008 wels qveyanaSi Semosuli

pirdapiri ucxouri investiciebis moculobam

1280.3 mln aSS dolari Seadgina, rac gasuli

wlis monacemze 26,9 procentiT naklebia.

miuxedavad imisa, rom 2008 weli finasuri

TvalsazrisiT rTuli weli iyo, saangariSo pe-

cxrili 1.5.3umsxvilesi saimporto sasaqonlo jgufebis ganawileba eqsportiori qveynebis mixedviT

navTobproduqtebi

msubuqi

avtomobil

ebi

navTobis a

irebi

samkurnal

o

saSual

ebebi

gadamcemi

aparatura

wnel

ebi

naxSirbadiani

fol

adisgan

xorbal

i d

a

mesl

ini

gamomTvl

el

i

manqanebi

fqvil

i

manganumi

Saqari

Tambaqos n

awarmi

xvedriTi wili mTlian importSi 12.6 7.6 3.4 3.1 2.4 1.8 1.8 1.5 1.2 1.2 1.1 1.0

azerbaijani 45.9 0.1 61.8 0.2 0.1 - 0.4 0.0 16.6 - 14.8 -

TurqmeneTi 17.3 - 0.5 - - - - - - - - -

rumineTi 10.0 0.0 - 0.5 0.3 - 1.9 0.0 - - - 1.3

bulgareTi 9.7 0.2 - 4.7 0.1 - - 0.0 - - - 4.5

saberZneTi 5.3 0.0 - 0.5 0.0 - - 0.0 - - - 0.3

italia 4.4 1.0 - 0.6 0.2 - - 0.3 1.1 - 0.2 -

TurqeTi 3.3 0.6 0.4 14.3 0.4 12.8 3.3 1.5 11.3 5.3 0.5 -

ruseTis federacia 1.2 1.3 37.2 2.0 0.1 0.2 51.1 0.1 24.6 - 1.4 0.0

germania 0.6 21.9 0.0 9.8 1.8 0.3 - 12.3 0.0 - 0.1 1.9

gaerTianebuli samefo 0.6 1.7 0.0 1.5 0.6 0.4 - 1.2 - - - -

Sveicaria 0.4 0.3 - 6.8 0.0 - 0.7 0.7 - - - -

ukraina 0.3 0.0 0.0 6.6 0.2 80.3 9.3 0.4 43.1 - 0.0 87.7

irani 0.2 0.1 0.1 0.0 0.0 - - 0.1 - - - -

fineTi 0.1 0.0 - 0.7 8.0 - - 2.4 0.0 - - -

belgia 0.1 1.5 - 3.6 2.8 - - 0.5 - - 0.1 0.0

aSS 0.1 26.0 - 5.9 2.9 - - 2.9 0.0 - 0.0 0.0

litva 0.1 0.0 - 0.7 0.2 - - 2.4 0.0 - 0.0 -

omani 0.1 0.6 - - - - - - - - - -

uzbekeTi 0.0 0.0 - 0.0 - - - - - - - -

arabTa gaerTianebuli saamiroebi 0.0 14.1 0.0 0.0 47.7 - - 9.8 - - 1.5 0.0

sxva qveynebi 0.1 30.4 - 41.5 34.6 6.0 33.3 65.3 3.2 94.7 81.3 4.3

sul 100 100 100 100 100 100 100 100 100 100 100 100

diagrama 1.5.7saqarTveloSi ganxorcielebuli pirdapiri da portfelis

investiciebi. (mln aSS dolari)

0

500

1000

1500

2000

2002 2003 2004 2005 2006 2007 2008

pirdapiri investicieebi portfelis investiciebi

riodSi adgili qonda saerTaSoriso rezerve-

bis zrdas, igi wlis ganmavlobaSi 119,0 mln aSS

dolariT gaizarda da 1480,2 mln aSS dolari

Seadgina, saerTaSoriso rezervebi Semcirda

mxolod mesame kvartalSi, sul wlis gamavlo-



baSi saerTaSoriso rezervebis operaciebiT ga-

mowveuli zrda 130,8 mln aSS dolaria.

2008 wlis mimdinare angariSis deficiti

2000_2008 wlebis yvelaze maRali maCvenebe-

lia. mimdinare angariSis deficiti maRali

iyo 2008 wlis pirvel naxevarSi _ 1732,4 mln

aSS dolari, 2-jer meti gasuli wlis analo-

giur maCvenebelze, xolo 2008 wlis meore

naxevarSi deficiti 1118,1 mln aSS dolara-

mde Semcirda da wina wlis analogiuri pe-

riodis Sesabamisi maCvenebelis 93 procenti

Seadgina. 2008 wlis meore naxevarSi saqonlis

balansSi Semcirda rogorc eqsporti, aseve

importi, magram eqsportis winmswrebi tempiT

Semcirebis gamo saqonlis uaryofiTi saldo

gaizarda. momsaxurebis balansi, romelic

mniSvnelovan rols asrulebda saqonlis ba-

lansiT gamowveuli deficitis dafinansebaSi

2008 wlis meore naxevarSi uaryofiTi gaxda,

rac ZiriTadad ganapiroba satransporto, sa-

dazRvevo, samSeneblo da sxva saqmiani momsa-

xurebis balansma.

2008 wels uaryofiTma sainvesticio Semo-

savlebma (debeti) gadaaWarba Semosavlebis

kredits, romelic ZiriTadad SromiTi Se-

mosavlebisagan Sedgeba. Sedegad 2008 wels

Semosavlebis balansi uaryofiTi gaxda.

mimdinare transferebis moculoba 2008

wels, wina welTan SedarebiT 1,5_jer gai-

zarda. transferebis Semodineba maRali iyo

2004 2005 2006 2007 2008

mimdinare angariSi -353.6 -709.5 -1 174.6 -2 008.7 -2 850.5

a. saqoneli -915.5 -1 214.2 -2 019.4 -2 895.8 -3 833.2

krediti 1 092.1 1 472.4 1 666.5 2 088.3 2 428.0

debeti -2 007.7 -2 686.6 -3 685.9 -4 984.1 -6 261.2

b. momsaxureba 69.6 83.5 158.0 161.3 27.5

krediti 554.8 715.0 885.0 1 094.1 1 263.3

debeti -485.1 -631.5 -727.0 -932.8 -1 235.8

g. Semosavali 78.5 62.1 162.8 37.4 -106.0

krediti 251.7 263.3 341.1 481.6 488.6

debeti -173.3 -201.2 -178.3 -444.2 -594.5

d. mimdinare transfertebi 413.9 359.0 523.9 688.5 1 061.2

krediti 465.4 413.4 587.0 768.5 1 142.8

debeti -51.5 -54.4 -63.0 -80.0 -81.7

kapitalisa da finansuri angariSi 342.4 682.8 1 239.3 2 034.3 2 879.0

kapitalis angariSi 40.7 58.6 171.2 127.6 104.8

krediti 44.1 61.6 172.2 127.9 104.9

debeti -3.4 -2.9 -1.0 -0.3 -0.1

finansuri angariSi 301.7 624.2 1 068.1 1 906.8 2 774.2

a. pirdapiri investiciebi 482.8 542.2 1 185.9 1 674.9 1 238.7

sazRvargareT -9.6 89.5 15.8 -75.3 -41.6

saqarTveloSi 492.3 452.8 1 170.1 1 750.2 1 280.3

b. portfelis investiciebi -13.0 15.5 140.3 21.1 692.4

aqtivebi -13.1 13.1 -2.2 -12.5 -2.3

pasivebi 0.1 2.4 142.5 33.6 694.8

g. finansuri warmoebulebi 0.0 0.0 0.0 1.1 7.8

aqtivebi 0.0 0.0 0.0 1.2 11.1

pasivebi 0.0 0.0 0.0 -0.2 -3.3

d. sxva investiciebi 9.8 177.1 180.5 586.7 966.1

aqtivebi -27.4 -16.2 -51.8 -202.3 -270.8

pasivebi 37.3 193.3 232.4 789.0 1 236.9

e. sarezervo aqtivebi -177.9 -110.6 -438.6 -377.0 -130.8

wminda Secdomebi da gamotovebebi 11.1 26.7 -64.7 -25.6 -28.5

gansakuTrebuli dafinanseba _ sul 144.1 142.5 116.2 178.7 1015.0

cxrili 1.5.4saqarTvelos sagadasaxdelo balansi (2004-2008 ww.)

(mln aSS dolari)



wlis meore naxevarSi rogorc samTavrobo,

ise kerZo seqtorSi. mimdinare transfere-

bis aseTi zrda ZiriTadad donori qveynebis

daxmarebis Sedegia.

1.6 safinanso bazrebi

kapitalis bazari

2008 wels saqarTvelos safondo birJaze

256.6 milioni laris Rirebulebis garigeba

ganxorcielda, saidanac 246 milioni lari

fiqsingis5 saSualebiT dadebul garigebebze

modis. safondo birJis savaWro sesiis dros

dadebuli garigebebis mTliani Rirebulebis

93 procenti Semdegi sami kompaniis aqciebze

modis: „saqarTvelos banki“, „Teliani veli“

da „viTibi banki jorjia“. fiqsingis saSuale-

biT dadebul garigebaTa mTliani Rirebule-

bis 90 procenti ki Semdegi kompaniis aciebze

modis „saqarTvelos banki“, „kaukazus energi

end infrastraqCa“ da „viTibi banki jorjia“.

2008 wlis 31 dekembris mdgomareobiT, sa-

fondo birJis savaWro sistemaSi daSvebuli

iyo 158 emitentis fasiani qaRaldi, romel-

Ta kapitalizacia6 545.6 milion lars Sead-

genda rac mSp_is mxolod 2.9 procents Se-

adgens. saqarTvelo aRniSnuli maCveneblis

mixedviT win uswrebs iseT qveynebs rogori-

ca somxeTi da ukraina 1,5 da 0,2 procenti,

Sesabamisad, Tumca mniSvnelovnad CamorCeba

sxva ganviTarebadi qveynebis analogiur ma-

Cveneblebs (aRniSnuli maCvenebeli evropis

ganviTarebadi qveynebisTvis saSualod 68

procents Seadgens, xolo aziis ganviTare-

badi qveynebisTvis 184 procentia7).

aRniSnulidan gamomdinare SesaZloa iTqvas,

rom safondo bazari qveyanaSi jer kidev ga-

nuviTarebelia da igi ar warmoadgens qveyana-

Si moqmedi kompaniebisTvis finansuri resur-

sebis moZiebis wyaros.

Sidasavaluto bazari

rogorc safinanso bazris yvelaze mgrZ-

nobiare segmenti, saqarTvelos Sida savalu-

to bazari 2008 wlis ganmavlobaSi qveyanaSi

ganviTarebuli politikuri da ekonomikuri

movlenebis anarekls warmoadgenda. saanga-

riSgebo periodSi mniSvnelovnad gaizarda

brunva savaluto bazarze, romelic, Tavis

mxriv, Tbilisis bankTaSorisi savaluto

birJis, pirdapiri bankTaSorisi savaluto

bazris, komerciuli bankebis mier kliente-

bis momsaxurebisa da valutis gadamcvleli

punqtebisagan Sedgeba.

2008 wels Tbilisis bankTaSoris savalu-

to birJaze brunvis moculoba 2007 welTan

SedarebiT TiTqmis 70 procentiT gaizarda

da 2,246 mln lari Seadgina. erovnuli bankis

mier ganxorcielebulma intervenciebma bir-

Jis jamuri brunvis 90.5 procenti Seadgi-

na. SedarebisTvis 2007 wlis analogiuri ma-

Cvenebeli 86.6 procenti iyo. wlis pirvel

naxevarSi erovnuli banki intervenciebs

ZiriTadad ucxouri valutis Sesyidvis mi-

marTulebiT axorcielebda da jamurad sa-

angariSo wlis pirvel 7 TveSi 356 mln aSS

dolari Seisyida. aseTi CareviT seb_i erov-

nuli valutis gamyarebis bunebriv process

SedarebiT mdores xdida. laris gamyarebis

tendencia, romelsac bolo wlebis ganma-

vlobaSi qveyanaSi ucxouri valutis Warbi

Semodineba ganapirobebda, kardinalurad

Seicvala agvistos omis Semdeg, rodesac

mkveTrad Semcirda qveyanaSi ucxouri va-

cxrili 1.6.1saqarTvelos safondo birJis kapitalizacia

2000_2008 ww.

weli 2000 2001 2002 2003 2004 2005 2006 2007 2008

wili mSp_Si 0.8 2.8 3.1 5.1 4 5.5 4.2 13.6 2.9

5 garigebis savaWro sistemis meSveobiT dafiqsireba (savaWro sesiis gverdis avliT).

6 mimoqcevaSi arsebuli fasiani qaRaldebis sabazro Rirebuleba, garda im fasiani qaRaldebisa, romlebic gamomSvebi kompaniis

sakuTrebaSia.

7 2007 wlis monacemebi, saerTaSoriso savaluto fondi.



lutis Semodineba. am momentidan erovnuli

bankis intervenciebis umetesoba ucxour

valutaze Warbi moTxovnis dakmayofilebas

emsaxureboda.

8 agvistodan noembris dasawyisamde pe-

riodSi, erovnuli banki cdilobda mkve-

Trad ar Secvliliyo laris gacvliTi kursi

aSS dolarTan. es imiT iyo ganpirobebuli,

rom laris kursis cvlileba SesaZlebeli

iyo asocirebuliyo omsa an safinanso kri-

zisTan, rac gaumarTlebel, arajansaR aJio-

taJs gamoiwvevda sabanko seqtorSi. aseTi

aJiotaJis ekonomikur-finansuri Sedegebi

savalalo iqneboda. Sesabamisad, erovnul-

ma bankma, faqtobrivad, daafiqsira laris

dolarTan gacvliTi kursi. oqtombris me-

ore naxevarSi msoflio finansuri krizi-

sis gaRrmavebis gamo, moxda aSS dolaris

mkveTri gamyareba sxva ZiriTadi valutebis

mimarT. aSS dolaris mimarT kursis dafi-

qsirebasa da TviT aSS dolaris gamyarebis

Sedegad moxda laris arabunebrivi gamyare-

ba. amis gamo, erovnuli banki iZulebuli iyo

noembris TveSi daeSva laris aSS dolarTan

mimarTebaSi erTjeradi gaufasureba.

noemberSi, erovnuli valutis gaufasure-

bis miuxedavad, saangariSo periodSi laris

realuri gacvliTi kursi gamyarda TiTqmis

yvela ucxouri valutis mimarT: evros mi-

marT gamyarebam 5.48 procenti, rusuli ru-

blis mimarT 2.62 procenti, xolo Turquli

liris mimarT 19.59 procenti Seadgina. aSS

dolaris mimarT laris realuri gacvliTi

kursi umniSvnelod (0.55 procentiT) gaufa-

surda.

erovnuli valutis gamyarebam sxvadasxva

valutebis mimarT calsaxad imoqmeda laris

rogorc nominalur, aseve realur efeqtur

gacvliT kursebze. saangariSgebo period-

Si laris nominaluri gacvliTi kursi 14.4

procentiT, xolo realuri _ 9.6 procentiT

gamyarda.

diagrama 1.6.1dinamika Tbilisis bankTaSoris savaluto birJaze

(2004-2008 ww. mln lari)

0

500

1000

1500

2000

2500

2004 2005 2006 2007 2008jamuri brunva seb-is gayidvebiseb-is Sesyidvebi

diagrama 1.6.2 laris realuri gacvliTi kursis dinamika ucxouri valutis

mimarT. (2002 dek = 100)

aSS dolaris mimarT

evros mimarT

rublis mimarT

liris mimarT

0

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

180.00

200.00

12.0

2

06.0

3

06.0

4

06.0

5

06.0

6

06.0

7

06.0

8

12.0

3

12.0

4

12.0

5

12.0

6

12.0

7

12.0

8

diagrama 1.6.3nominaluri da realuri efeqturi gacvliTi kursebis Tviuri

indeqsi (2002 dek = 100)

nominaluri realuri

70.00

80.00

90.00

100.00

110.00

120.00

130.00

12.0

2

12.0

3

12.0

4

12.0

5

12.0

6

12.0

7

12.0

8

04.0

3

04.0

4

04.0

5

04.0

6

04.0

7

04.0

8

08.0

3

08.0

4

08.0

5

08.0

6

08.0

7

08.0

8



2. fulad_sakredito da savaluto politika

2.1 fulad-sakredito politika


monetaruli politikis SemuSavebisas xel-

mZRvanelobda `saqarTvelos erovnuli

bankis Sesaxeb~ saqarTvelos organuli ka-

nonis me-2 muxliT gansazRvruli ZiriTadi

amocanebiTa da funqciebiT, romlis mixed-

viTac, `erovnuli bankis ZiriTadi amoca-

naa fasebis stabilurobis uzrunvelyofa~.

erovnuli bankis ZiriTadi amocanis foku-

sireba fasebis stabilurobis uzrunvelyo-

faze eyrdnoba sayovelTaod aRiarebul mo-

sazrebas, rom dabali da prognozirebadi

inflacia grZelvadiani ekonomikuri zrdis

aucilebeli winapirobaa. aRsaniSnavia, rom

2008 wlis martis TveSi `saqarTvelos erov-

nuli bankis Sesaxeb~ saqarTvelos organul

kanonSi Sevida cvlilebebi da damatebebi,

romlis mixedviTac cxadad ganisazRvra sa-

qarTvelos erovnuli bankis ZiriTadi amo-

cana, xolo sxva funqciebi, rogoric aris

uzrunvelyos finansuri sistemis stabilu-

roba da gamWvirvaloba da xeli unda Seu-

wyos qveyanaSi mdgrad ekonomikur zrdas

unda Sesruldes maSin, Tu es SesaZlebelia

ise, rom safrTxe ar Seeqmnas misi ZiriTadi

amocanis Sesrulebas~. amdenad, 2008 welsac

fasebis stabilurobaze orientirebuli fu-

lad-sakredito politika sainvesticio ga-

remos gaumjobesebas, mosaxleobis Semosav-

lebis gaufasurebisagan dacvasa da mTliani

Sida produqtis grZelvadiani zrdis poten-

cialis amaRlebas emsaxureboda.


monetarul politikas axorcilebda `saqar-

Tvelos 2008 wlis fulad-sakredito da sa-

valuto politikis ZiriTadi mimarTulebebis

Sesaxeb~ saqarTvelos parlamentis dadgeni-

lebis Sesabamisad, romelic miznad isaxavda

wlis bolosaTvis fasebis saprognozo zrdas

8 procentis farglebSi. imis gaTvaliswine-

biT, rom egzogenuri faqtorebis zemoqmede-

bis SemTxvevaSi, romelic mravlad iyo 2008

wlis ganmavlobaSi, SesaZlebeli iyo infla-

ciis donis saprognozo maCveneblidan gada-

xra. amasTan, Tu gadaxris masStabi imdenad

mniSvnelovani iqneboda, rom inflaciaze mo-

qmed iseT fundamentur faqtorze, rogori-

caa inflaciuri molodini, moaxdenda poten-

ciur gavlenas, erovnuli banki aseT SemTxve-

vas monetaruli politikis gamkacrebiT (an

SerbilebiT) upasuxebda.

wlis pirveli naxevris ganmavlobaSi sak-

maod maRali wliuri inflaciis maCvenebeli

fiqsirdeboda, rac ZiriTadad 2007 wels sa-

momxmareblo kalaTisaTvis zogierT mniS-

vnelovan komponentze fasebis da adminis-

trirebadi fasebis erTjeradi zrdiT iyo

gamowveuli. Sedegad gazafxulze wliuri

inflacia 12 procents aWarbebda. erovnuli

banki prognozirebda, rom zemoaRniSnuli

egzogenuri faqtorebiT gamowveuli efeqti

wlis meore naxevridan wliuri inflaciis

maCvenebelze zemoqmedebas aRar moaxdenda

da Sedegad inflacias klebis tendencia eqne-

boda. marTlac, ivlisis TveSi inflaciis ma-

Cvenebeli Semcirda erTniSna ricxvamde. Tu-

mca agvistos TveSi qveyanaSi ganviTarebuli

saomari moqmedebebis Sedegad produqciis

erTi regionidan meoreSi transportirebis

garTulebam da Sedegad bazarze aRniSnuli

saqonlis miwodebis simcirem gamoiwvia zo-

gierT sasoflo_sameurneo saqonelze fase-

bis mkveTri zrda da inflaciis maCvenebelma

fulad_sakredito da savaluto politika


wlis ganmavlobaSi maqsimalur niSnuls, 12.8

procents miaRwia. mdgomareobis stabiliza-

ciasTan erTad fasebi TandaTanobiT dau-

brunda adrindel niSnuls. amas Tan daerTo

wlis meore naxevarSi saerTaSoriso bazrebze

energomatareblebze, xorbalze da sxva saqo-

nelze fasebis sagrZnobi dacema. wlis bolo-

saTvis wliuri inflaciis maCveneblis mniS-

vnelovani kleba dafiqsirda saqarTvelos

ZiriTad savaWro partnior qveynebSic, ramac

aseve iqonia gavlena saqarTveloSi fasebis

dinamikaze. Sedegad inflaciis maCvenebeli

mkveTrad Semcirda wlis bolos 5.5 procen-

tamde. saSualo wliuri inflacia 2008 wlis

ganmavlobaSi 10 procents Seadgens.

2008 wels, wina wlebis msgavsad, erovnuli

bankis saSualovadian perspeqtivaSi fasebis

saerTo donis stabilurobasa da ekonomikis

ryevebis SeZlebisdagvarad minimizaciaze

orientirebuli fulad-sakredito poli-

tika kvlav seriozuli gamowvevebis winaSe

idga. ZiriTadad egzogenuri da nawilobriv

monetaruli faqtorebis gavleniT 2008 wels

inflacias sakmaod maRali meryeoba hqonda.

saqarTvelos erovnuli banki fulis masis

miwodebis regulirebas masze moTxovnis Se-

sabamisad axdenda. ekonomikuri zrdis, mone-

tizaciis, dedolarizaciis da sxva faqto-

rebis mosalodnel dinamikaze dayrdnobiT,

fasebis stabilurobis prioritetulobis

gaTvaliswinebiT, sarezervo fulis masis

zrda Tavdapirvelad daigegma 10 procentis

farglebSi. pirveli kvartlis ganmavloba-

Si didi odenobiT ucxouri kapitalis Se-

modinebis fonze erovnulma bankma laris

gacvliTi kursis Zlieri meryeobis Tavis

aridebis mizniT gazarda savaluto bazar-

ze intervenciebi, aSS dolaris Sesyidvebi.

aRniSnuli operaciebi xels uwyobda sare-

zervo fulisa da Sedegad ekonomikisTvis

fulis miwodebis zrdas. Tumca, savaluto

intervenciebis sterilizaciis mizniT ero-

vnuli banki aqtiurad mimarTavda sadepozi-

to serTifikatebiT sistemidan Warbi fulis

amoRebas. martis bolosaTvis sadepozito

serTifikatebiT sistemidan fulis amoRebam

467 mln lars miaRwia. monetaruli politi-

kis gamkacrebis mizniT, saqarTvelos ero-

vnuli banki sul ufro aqtiurad iyenebda

„monetaruli politikis ZiriTad saprocen-

to ganakveTs~ romelic wlis pirvel naxe-

varSi sami procentuli punqtiT gaizarda

da 12 procents miaRwia.

momdevno Tveebis ganmavlobaSi dasavle-

Tis ganviTarebul bazrebze gamoCnda finan-

suri krizisis dasawyisis pirveli niSnebi,

ris Sedegadac saqarTveloSi moqmed ko-

merciul bankebs gauZneldaT saerTaSori-

so bazrebidan sakredito resursis moZie-

ba adrindeli moculobebiT da pirobebiT.

Tumca pirvel xanebSi amas xeli ar SeuSlia

fuladi agregatebis zrdisaTvis, radgan

am droisaTvis komerciul bankebs sakmaod

mniSvnelovani resursi hqondaT investire-

buli erovnuli bankis sadepozito serTifi-

katebSi da Sedegad saerTaSoriso bazrebze

sakredito resursis ukmarisobas bankebma

sadepozito sertifikatebidan resursis

gamoTxoviT upasuxes. Sedegad, sarezervo

fulis wliuri zrdis tempi ivlisis bolo

mdgomareobiT 34 procents aRemateboda.

M2 fuladi agregatis wliuri zrdis tempi

ivlisis mdgomareobiT 41 procents, xolo

M3 fuladi agregatis wliuri zrdis tempi

27 procents Seadgenda. saerTod wlis pir-

veli naxevris ganmavlobaSi erovnuli banki

atarebda mkacr monetarul politikas, rac

mimarTuli iyo sabanko sistemidan Warbi li-

kvidobis amoRebisaken, raTa fuladi agre-

gatebis zrdis tempi sasurvel farglebSi

moqceuliyo.

agvistoSi ganviTarebulma saomarma moq-

medebebma, xolo Semdgom periodSi msoflio

ekonomikuri krizisis gamwvavebam erovnu-



li bankis monetaruli politika sruliad

gansxvavebuli gamowvevebis winaSe daayena.

saomari moqmedebebis Sedegad gazrdilma

gaurkvevlobam sabanko sistemidan depozite-

bis gadinebas sagrZnoblad Seuwyo xeli. imi-

saTvis, rom Tavidan aecilebina Seferxebebi

meanabreebis moTxovnebis dakmayofilebisa-

Tvis erovnulma bankma droebiT gaaTavisu-

fla komerciuli bankebi minimaluri sare-

zervo moTxovnebis dacvisagan da amiT ga-

moaTavisufla sakmaod mniSvnelovani mocu-

lobis resursi. am periodisaTvis minimaluri

sarezervo moTxovna 13 procents Seadgenda.

mogvianebiT erovnulma bankma minimaluri sa-

rezervo moTxovnebis ganakveTi 5 procentam-

de Seamcira. aRniSnuli cvlileba monetaru-

li politikis mimarTulebis cvlilebiT iyo

nakarnaxevi. ekonomikis mosalodneli zrdis

tempis prognozis gauaresebis, rogorc qvey-

nis SigniT, aseve ZiriTad savaWro partnior

qveynebSi da zogadad msoflioSi, saerTaSo-

riso bazrebze deflaciuri procesebis ga-

Zlierebis, sabanko sistemaSi likvidobis de-

ficitis zrdisa da sakredito resursis mo-

Ziebis garTulebis Sedegad rogorc qveynis

SigniT, aseve mis farglebs gareT, erovnulma

bankma Secvala mkacri monetaruli politika

eqspansiuri, ekonomikis stimulirebisaken mi-

marTuli politikiT.

monetaruli politikis kursis cvlile-

bam, agreTve sabanko sistemis likvidobis

siWarbidan deficitis mdgomareobaSi ga-

dasvlam, dRis wesrigSi daayena monetaruli

politikis axali instrumentis, 7 dRiani re-

finansirebis sesxebis amoqmedebis aucile-

bloba. aRniSnuli instrumenti saSualebas

aZlevs, erTi mxriv, sistemis deficitis pi-

robebSi momuSave komerciul bankebs ufro

efeqturad marTon likvidoba, xolo, meore

mxriv, erovnul banks bankTaSoris sakredi-

to bazarze saprocento ganakveTis cvlile-

bis gziT, signali misces ekonomikas mone-

taruli politikis mimarTulebis Sesaxeb da

zegavlena moaxdinos ekonomikuri agentebis

molodinebze. ekonomikuri krizisis gaRr-

mavebasTan da Sedegad, ekonomikis zrdis

mosalodneli tempebis prognozebis gauare-

sebasTan erTad, agvistos Semdgom period-

Si erovnulma bankma oTx SemTxvevaSi (TiTo

jerze erTi procentuli punqtiT) Seamcira

politikis ZiriTadi ganakveTi agvistoSi 12

procentidan wlis bolos 8 procentamde.

diagrama 2.1.1 monetaruli politikis ZiriTadi ganakveTi 2008 wels.

6

7

8

9

10

11

12

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8

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8

05.0

8

07.0

8

09.0

8

11.0

8

wyaro: saqarTvelos erovnuli banki


diagrama 2.1.2 M2 fulis masisa (Tvis saSualo monacemebiT) da samomxmareblo

fasebis wliuri zrdis tempi

-20 012345678910111213141516

-10

0

10

20

30

40

50

60

7080

01.0

6

01.0

7

01.0

8

02.0

6

02.0

7

02.0

8

03.0

6

03.0

7

03.0

8

04.0

6

04.0

7

04.0

8

05.0

6

05.0

7

05.0

8

06.0

6

06.0

7

06.0

8

07.0

6

07.0

7

07.0

8

08.0

6

08.0

7

08.0

8

09.0

6

09.0

7

09.0

8

10.0

6

10.0

7

10.0

8

11.0

6

11.0

7

11.0

8

12.0

6

12.0

7

12.0

8

M2, marcxena skala sfi inflacia, marjvena skala



Tumca, aRniSnuli RonisZiebebi ar iyo

sakmarisi likvidobis deficitis gamwvavebis

pirobebSi komerciuli bankebis sakredito

aqtivobis da Sedegad, ekonomikuri aqtivo-

bis sakmarisi moculobiT gamococxlebi-

saTvis. erovnulma bankma sabanko sistemas

damatebiT gamouyo 135.9 milioni laris re-

sursi, eqvsi Tvis vadiT, erT wlamde vadis

gazrdis SesaZleblobiT.

miuxedavad imisa, rom zemoaRniSnuli Ro-

nisZiebebi mimarTuli iyo ekonomikuri aqti-

vobis xelSewyobis mizniT ekonomikaSi fulis

masis zrdisaken, oqtomber_noemberSi, laris

gacvliTi kursis gaufasurebis molodinis

zrdis Sedegad ekonomikur agentebSi gaizarda

ucxour valutaze moTxovna, ramac sarezer-

vo fulze da saboloo jamSi, fulad agre-

gatebze Semcirebis mimarTulebiT imoqmeda.

Sedegad, wlis bolosTvis, sarezervo fulis

wliuri klebis tempma 7.8 procenti Seadgina.

M2 fuladi agregatis wliuri klebis tempi 13

procents Seadgens, xolo M3 fuladi agrega-

tis zrdis tempi ivnisis TveSi 29 procenti-

dan wlis bolos 7 procentamde Semcirda. M2

fulis multiplikatori wlis ganmavlobaSi 6

procentiT Semcirda, xolo M3 fulis mul-

tiplikatori 16 procentiT gaizarda.

agvistos movlenebis Semdgom periodSi,

laris gaufasurebis molodinis zrdasTan

erTad, mkveTrad Semcirda larze moTxovna,

amdenad monetaruli politikis ganxorcie-

lebaSi mniSvnelovani iyo gacvlis kursis

rolic, radgan igi mniSvnelovan gavlenas

axdens inflaciuri molodinis Camoyalibe-

baze. aRsaniSnavia, rom saqarTvelos ekono-

mikis maxasiaTeblebis gaTvaliswinebiT, sa-

qarTvelos erovnuli banki gacvliT kurss

Sualedur orientirad ar ganixilavs, anu,

fulis masis zrdis tempis sapirispirod ar

cdilobs gansazRvros gacvlis kursis rai-

me niSnuli. Tumca, intervenciebi savaluto

birJaze intensiurad xorcieldeboda ga-

cvliTi kursis moklevadiani ryevebis Ta-

vis aridebis mizniT. imis gaTvaliswinebiT,

rom saqarTveloSi ekonomikuri agentebis

molodini sakmaod mgrZnobiarea laris ga-

cvliTi kursis cvalebadobis mimarT, agvis-

tos movlenebis dros da Semdgom periodSi

erovnulma bankma arasasurveli aJiotaJis

Tavis aridebis mizniT daafiqsira laris ga-

cvlis kursi aSS dolarTan mimarTebaSi. am

periods daemTxva msoflio finansuri kri-

zisis gamwvavebis Sedegad aSS dolaris mkve-

Tri gamyareba sxva valutebTan mimarTebaSi,

rasac mohyva laris kursis dacileba mokle-

vadiani wonasworuli wertilidan, gaZlier-

da kursis gaufasurebis molodini, ramac

Tavis mxriv, warmoSva damatebiTi moTxovna

ucxour valutaze. ucxour valutaze speku-

laciuri moTxovnis gaZlierebis sapasuxod

erovnulma bankma noemberis dasawyisSi uari

Tqva kursis dafiqsirebaze, ris Sedegadac

moxda laris gacvliTi kursis erTjeradi

koreqcia gaufasurebis mimarTulebiT. aR-

niSnuli nabijis Semdeg savaluto bazarze

ucxour valutaze moTxovna dastabilurda.

agvistos movlenebisa da gansakuTrebiT

msoflio ekonomikuri krizisis gaRrmavebis

Semdgom, fulis moTxovnis zrdis tempis Se-

nelebis Sedegad, Semcirda ekonomikis mone-

tizaciis maCveneblebi. 2008 wels monetiza-

ciis maCvenebelma mTlian Sida produqtTan

mimarTebiT 22.6 da 9.8 procenti Seadgina,

Sesabamisad M3 da M2 fuladi agregatebis

mixedviT. M2 fuladi agregatis zrdis tem-

pi ufro mkveTrad Semcirda vidre M3, rac

wlis bolos laris gaufasurebis molodinis

gamo ucxouri valutaze gazrdili moTxo-

vniT aixsneba. 2008 wels SenarCunebuli iyo

laris moTxovnaze moqmedi iseTi faqtorebi,

rogorebicaa sabiujeto saxsrebis moZrao-

ba, mosaxleobis tranzaqciuli saWiroeba.

laris moTxovnis erT-erTi mniSvnelovani

wyaro wina wlis saxelmwifo biujetis ga-



zrdili brunva iyo. 2008 wels, wina welTan

SedarebiT, saxelmwifo biujeti daaxloebiT

30 procentiT gaizarda da 6.5 miliard lars

gadaaWarba. saxelmwifo finansebze damokide-

buli mosaxleobis nawilis Semosavlebis ma-

teba ekonomikis monetizacias uwyobda xels.

2008 wlis pirvel naxevarSi, wina wlis

msgavsad, saqarTvelos erovnuli bankis fu-

lad-sakredito politika dedolarizaciis

pirobebSi warimarTa. sabanko depozitebis

dolarizaciis koeficienti 65.6_dan ivli-

sis bolosaTvis 60 procentamde Semcirda.

Tumca, Semdgom ganviTarebulma movleneb-

ma, laris gaufasurebis molodinis zrdam,

ekonomikis dolarizaciis zrda gamoiwvia.

agvistos Semdeg sabanko depozitebis dola-

rizaciis koeficienti ganuxrelad izrde-

boda da wlis bolosTvis 75.8 procents mia-

Rwia. dolarizaciis zrdas laris gacvliTi

kursis gaufasurebamac Seuwyo xeli, ris

Sedegadac mosaxleobis ndoba laris mimarT

ecemoda. sabolood, 2008 wlis ganmavlobaSi

depozitebis dolarizaciis maCvenebeli 15.5

procentiT gaizarda.

rogorc ukve aRvniSneT, 2008 wlis ganma-

vlobaSi inflaciis dinamikaze mniSvnelo-

vani iyo egzogenuri faqtorebis gavlena.

aRniSnulis gaTvaliswinebiT, saqarTvelos

erovnuli banki sabazo inflaciis Sesafase-

blad iyenebda rogorc samomxmareblo kala-

Tidan sxvadasxva komponentis gamoricxviT

miRebul indeqsebs, ise erTi da ori stan-

dartuli gadaxris farglebSi myofi samomx-

mareblo kalaTis komponentebis mixedviT

miRebul indeqss. sabazo inflaciis indeq-

sebis analizi ki, metwilad, fasebis saerTo

donis stabilurobisa da wlis dasawyisSi

SedarebiT maRali inflaciis droebiT bune-

baze mianiSnebda, rac wlis meore naxevarSi

dadasturda kidec.

aseT pirobebSi gasul wels saqarTvelos

erovnuli bankis monetaruli politika Zi-

riTadad gamiznuli iyo fasebis donis saSu-

alo da grZelvadiani stabilurobis miRwe-

vaze. aseTi midgoma, fasebis klebis sixis-

tis pirobebSi, ekonomikis zrdis Seferxebis

Tavidan asacileblad, fasebis dinamikaze

moqmedi sxvadasxva egzogenuri Sokis susti

moTxovniT neitralizebas ar gulisxmobda.

ZiriTadi aqcenti ufro miwodebis Sokis

irib, meorad efeqtebze keTdeboda. bune-

brivia, monetaruli politika ara arsebuli,

aramed mosalodneli inflaciis marTvaze

iyo orientirebuli. mosaxleobis swori in-

flaciuri molodinis Camoyalibebis mizniT

uaRresad mniSvnelovani iyo monetaruli

politikis gamWvirvaloba da saqarTvelos

erovnuli bankis sazogadoebasTan urTier-

Tobis politika.

saqarTvelos erovnuli banki miiCnevda,

rom dasaxuli miznebis misaRwevad aucile-

beli iyo safinanso bazris monawileTaTvis,

agreTve sazogadoebis farTo fenebisaTvis

naTeli yofiliyo ekonomikaSi mimdina-

re procesebis realuri mizezebi da mosa-

lodneli Sedegebi, saqarTvelos erovnuli

bankis mier aRiarebuli prioritetebi, maT-

ze dayrdnobiT gatarebuli RonisZiebebis

Sinaarsi da gavlena ekonomikaze. am konte-

diagrama 2.1.3ekonomikis monetizacia 1996-2008 wlebSi

0

5

10

15

25

20

2002200120001999199819971996 2003 2004 2005 2006 2007 2008

M3 M2




qstSi, sxva wamyvani qveynebis centraluri

bankebis mier aprobirebuli praqtikis msga-

vsad, saqarTvelos erovnuli banki cdilob-

da eleqtronuli da beWdviTi gamocemebisa

Tu masobrivi informaciis sxva saSualebebis

meSveobiT maqsimalurad xelmisawvdomi gae-

xada informacia fulad da savaluto bazre-

bze mimdinare tendenciebis Sesaxeb, warmo-

eCina sakuTari xedva am sakiTxebTan mimar-

TebiT da aexsna ama Tu im gadawyvetilebis

miRebis motivebi. am mizniT erovnuli banki

yovelTviurad gamoscemda `monetarul da

fiskalur mimoxilvas~, yovelkvartalurad

gamoscemda `inflaciis mimoxilvas~, opera-

tiulad aqveynebda statistikur monacemebs

da sxv.

amdenad, arsebuli sirTuleebis gaTva-

liswinebiT, SeiZleba iTqvas, rom saqarTve-

los erovnulma bankma moaxerxa wlis meore

naxevrisaTvis inflaciis zrdis SeCereba, Tu-

mca, am periods daemTxva saerTaSoriso ba-

zrebze fasebis mkveTri dacema, rac agreTve

aisaxa saqarTvelos samomxmareblo fasebis

indeqsze. Sedegad, wlis bolosTvis erovnu-

li bankis prognozirebulze dabali infla-

ciis maCvenebeli dafiqsirda _ 5.5 procenti.

2.2 savaluto politika da

saerTaSoriso rezervebis marTva

2008 wels saqarTvelos erovnuli bankis

savaluto politika fasebis stabilurobis

SenarCunebis konteqstSi erT-erTi mniSvne-

lovani mimarTuleba iyo. amave dros, saanga-

riSo periodSi savaluto politikis mTavar

prioritetebad rCeboda laris kursis mkve-

Tri koniunqturuli ryevebis Serbileba,

laris realuri efeqturi kursis gamyarebis

Sesusteba da saerTaSoriso rezervebis aku-

mulireba.

saangariSo periodSi saqarTvelos erov-

nuli bankis savaluto politika marTvadi

mcuravi gacvlis kursis reJimis fargleb-

Si xorcieldeboda. saqarTvelos erovnuli

bankis savaluto intervenciebis mizani ga-

cvlis kursis mkveTri ryevebis Tavidan aci-

leba iyo da ara kursis moZraobis ZiriTadi

trendis Secvla da konkretuli sakurso

Tanafardobis Camoyalibeba. amasTan, iseve

rogorc wina wlebSi, gasul welsac, kapi-

talis angariSi liberalizebuli iyo, rac

nebismier ekonomikur subieqts ucxouri

valutiT depozitebis gaxsnis saSualebas

aZlevda, rogorc saqarTveloSi, ise sazR-

vargareT, aseve, mis xelT arsebuli Tanxebis

nebismieri ucxouri valutiT konvertirebis

SesaZleblobas.

diagrama 2.2.2seb-is monawileoba Tbsb-ze 2008 wlis ganmvalobaSi. (mln aSS dolari)

0.00

50.00

100.00

150.00

250.00

200.00

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8

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8

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8

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8

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8

12.0

8

seb-is mier valutis Sesyidva seb-is mier valutis gayidva

diagrama 2.2.1 laris aSS dolaris mimarT Tbsb-ze dafiqsirebuli gacvlis kursi.

2006-2008 ww.

1.4

1.5

1.6

1.7

1.8

1.9

2.0

01.06 01.07 01.08

2006 2007 2008



savaluto bazarze gacvliTi kursis mkve-

Tri meryeobis Semcirebis mizniT, ucxouri

valutis moTxovna_miwodebas Soris sxvaobas

abalansebda erovnuli banki. saqarTvelos

erovnulma bankma 2008 wlis ganmavlobaSi

Tbilisis bankTaSoris savaluto birJis sa-

vaWro sesiebze 1,211.2 mln aSS dolari gayi-

da da 821.7 mln aSS dolari Seisyida. wlis

pirveli naxevris ganmavlobaSi bankTaSoris

savaluto birJaze saqarTvelos erovnuli

banki ZiriTadad ucxouri valutis myidvelis

rolSi gamodioda. agvistos omis Semdgom pe-

riodSi, rasac emateboda msoflio safinanso

krizisi, Semcirda qveyanaSi ucxouri kerZo

kapitalis Semodineba. saerTaSoriso daxma-

rebebis Sedegad ki gaizarda valutis Semodi-

neba saxelmwifo arxebiT. rom ar momxdariyo

saerTaSoriso rezervebis zrda valutis de-

ficitis pirobebSi, saqarTvelos erovnuli

banki, wlis pirveli naxevrisgan gansxvavebiT,

yidida aSS dolars wlis meore naxevarSi.

aSS dolaris mimarT laris oficialuri

gacvlis kursis saSualo sidide 2008 wlis

ganmavlobaSi 1.4902 lars gautolda. 2008

wels saSualo wliuri gacvlis kursi 11

procentiT gamyarda (1.6703_dan 1.4902_mde),

xolo wlis bolo monacemiT gacvlis kursi

4.7 procentiT gaufasurda (lari/aSS dola-

ris gacvlis kursi 1.5916_dan 1. 6670_mde

gaizarda).

wlis ganmavlobaSi mkveTr cvlilebebs

ganicdida agreTve nominaluri da realu-

ri efeqturi gacvliTi kursebi. kerZod,

saangariSo wlis ganmavlobaSi nominaluri

efeqturi kursi 14.4 procentiT gamyarda,

xolo realuri efeqturi gacvliTi kursi

9.6 procentiT gamyarda.

saerTaSoriso rezervebis dinamika. 2008

wlis 31 dekembris mdgomareobiT seb_is saer-

TaSoriso rezervebis moculobam 1 480.2 mln

aSS dolari Seadgina, rac 2007 wlis analo-

giur maCvenebels 8.74 procentiT aRemateba.

aRsaniSnavia, rom 2008 wlis ganmavloba-

Si seb_is mier Tbsb_ze ganxorcielebulma

wminda gayidvebma 389.49 mln aSS dolari

Seadgina. wlis ganmavlobaSi seb_is saerTa-

Soriso rezervebis zrdas Semdegi ZiriTadi

wyaroebi ganapirobebda: privatizaciidan

miRebuli saxsrebi (121 mln aSS dolari),

saerTaSoriso savaluto fondidan miRebu-

li tranSi (240 mln aSS dolari), aSS_dan

miRebuli biujetis daxmarebis granti (250

mln aSS dolari), agreTve finansTa saminis-

trosaTvis donori qveynebidan gacemuli

sxva kreditebi da grantebi. aseve saerTa-

Soriso rezervebis zrdas uzrunvelyofda

diagrama 2.2.3laris realuri da nominaluri efeqturi gacvliTi kursebis

indeqsebi (dek 2006=100)

94

99

104

109

124

119

114

01.0

8

02.0

8

03.0

8

04.0

8

05.0

8

06.0

8

07.0

8

08.0

8

09.0

8

10.0

8

11.0

8

12.0

8

nominaluri efeqturi gacvliTi kursis indeqsi

realuri efeqturi gacvliTi kursis indeqsi

0

200

400

600

1000

1600

1200

1400

800

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996

1995

diagrama 2.2.4 oficialuri sarezervo aqtivebi

(milioni aSS dolari, wlis bolo maCvenebeli)



evroobligaciebis gayidviT miRebuli Se-

mosavali da Semdgom suverenuli fondebi-

dan Tanxebis repatriacia. saerTaSoriso

rezervebis Semcireba daiwyo agvistos da-

sawyisSi, saomar situaciasTan dakavSirebiT

da seqtembris bolomde Semcirda daaxlo-

ebiT 360 mln aSS dolariT. 2008 wlis gan-

mavlobaSi rezervebidan miRebulma Semosa-

valma 70 667 926 lari Seadgina, rac wina

wlis analogiuri periodis Semosavalze

26.4 mln lariT naklebia. wina welTan Se-

darebiT Semosavlebis Semcireba, msoflio

finansur bazrebze saprocento ganakveTe-

bis mkveTri Semcirebis Sedegia.

qveyanaSi arsebuli daZabuli situaciis

gaTvaliswinebiT, komerciuli bankebis mxri-

dan gaCnda didi moTxovna naRd ucxour va-

lutaze. komerciuli bankebis klientebis

moTxovnis dasakmayofileblad, qveyanaSi

sabanko sistemis mimarT ndobisa da stabi-

lurobis SenarCunebis mizniT, aseve, didi

sakurso ryevebis Tavidan acilebisaTvis,

seb_ma maqsimalurad mWidro vadebSi mo-

axerxa, rogorc naRdi ucxouri valutiT

(rogorc aSS dolari, aseve evro) sabanko

sistemis momarageba, aseve uzrunvelyo Seu-

ferxebeli momsaxurebis gaweva komerciuli

bankebisTvis da mTavrobisTvis, riTac Se-

Zlo Tavidan aecilebina msgavsi krizisuli

situaciis Tanmdevi problemebi.

2.3 fulis miwodeba

saangariSo periodSi, saqarTvelos erovnu-

li banki fulis miwodebas axorcielebda fu-

lis moTxovnis faqtorebis gaTvaliswinebiT.

fulis moTxovnas saangariSo periodSi,

Tavis mxriv, ayalibebda iseTi maCveneblebi,

rogoricaa ekonomikis realuri seqtoris

zrdis tempi, sabiujeto sferoSi mimdinare

cvlilebebi, inflaciisa da gacvliTi kur-

sis dinamika, savaluto nakadebis moZraoba

da sezonuri faqtorebi.

miuxedavad imisa, rom agvistomde, fula-

di baza wina wlebSi arsebul tendenciebs

inarCunebda da xasiaTdeboda zrdis maRali

tempebiT (magaliTad, ivlisis bolosaTvis

wliuri zrdis tempi 34,1 procenti iyo),

agvistos omisa da msoflio finansuri kri-

zisis Sedegebi uaryofiTad aisaxa fulad

bazaze da misi arsebiTi SekumSva ganapiroba.

kerZod, 2008 wels, sarezervo fulis maCve-

nebelma 139,7 mln lariT (7,8 procentiT)

moiklo da dekembris bolosTvis 1642,1 mln

lari Seadgina. rogorc aRiniSna, ianvridan

agvistos Tvemde fuladi masa zrdis mimar-

TulebiT moZraobda. am periodSi, fulis

miwodebis ZiriTad ganmsazRvrel faqto-

rebs ucxouri Semodinebebi da saxelmwifo

biujeti warmoadgenda. fulis miwodebis

erT_erTi umniSvnelovanes arxs, savaluto

bazarze Camoyalibebuli koniunqturis Se-

degad, seb_is mier ganxorcielebuli inter-

venciebi warmoadgenda, romlis sapirwoned

aqtiurad gamoiyeneboda sadepozito serti-

fikatebis emisia. agvistos Semdeg ki, mkve-

Trad Semcirda sarezervo fulis masa, miu-

xedavad imisa, rom seb_ma Seqmna axali ins-

trumenti refinansirebis sesxebis saxiT da

amasTan, komerciul bankebs SesTavaza bolo

instanciis dakreditebis paketi, saidanac

aTvisebul iqna sesxi 135.9 mln laris ode-

nobiT. Tumca, fulad bazarze seb_is aseTma

aqtiurobam, mxolod seqtember_oqtomberSi

SeZlo fuladi bazis gafarToebis Senar-

Cuneba, xolo noembersa da dekemberSi igi

mkveTrad Semcirda (Sesabamisad, _8.6 pro-

centi da _7,8 procenti).

2008 wels, tradiciulad, fulis moTxov-

nas ekonomikis zrda da sezonuri faqtorebi

gansazRvravda. mSp-is realuri zrdis tempma

dekembris monacemebiT mxolod 2.1 procen-

ti Seadgina. zemoaRniSnuli faqtoris gaTva-

liswinebiT, wlis bolos monacemis mixedviT,

farTo fuli M3 mxolod 7-procentiT (277.7



mln lari) gaizarda (SedarebisaTvis 2007

wlis bolosaTvis fulis masis wliuri zrda

TiTqmis 50 procents Seadgenda). nominalu-

ri mSp_s fulis moTxovnaze metad zrdam,

monetizaciis maCveneblis kleba gamoiwvia.

wlis bolo monacemebis mixedviT, M3 fula-

di agregatisTvis monetizaciis koeficienti

23,7-dan 22,6 procentamde Semcirda. farTo

fuli M2-is maCvenebeli saangariSo periodSi

13 procentiT (286,8 mln lariT) iklo, Sesa-

bamisad M2 agregatis mSp-Tan Sefardeba ki

12,6-dan 9,8 procentamde Semcirda.

sabanko sistemis sadepozito valdebu-

lebebi 2008 wels 347,2 mln lariT (anu

12,1 procentiT) gaizarda da 3222,6 mln

lari Seadgina. depozitebis zrda mTlia-

nad ucxour valutaSi ganTavsebuli depo-

zitebis xarjze moxda.

erovnul valutaSi ganTavsebuli depo-

zitebi saangariSo periodSi Semcirda 217,3

mln lariT (_21,8 procentiT). amasTan, ero-

vnul valutaSi depozitebis kleba metwilad

iurdiuli pirebis depozitebze modis.

wina wlebTan SedarebiT, sadepozito ba-

zis gafarToebis dabalma tempma Sesabami-

si gavlena moaxdina komerciuli bankebis

sakredito potencialze, rac ekonomikisa-

Tvis gacemuli sesxebis donesa da saprocen-

to ganakveTebze aisaxa.

kerZod, mniSvnelovnad moimata saprocen-

to ganakveTebma sabanko sesxebze. 2008 wlis

bolos, gasuli wlis analogiur periodTan

SedarebiT, mTlian sesxebze ganakveTi 19,2-

diagrama 2.3.1 fuladi agregatebis dinamika (mln lari)

sadepozito valdebulebebi (ucxour valutaSi)

sadepozito valdebulebebi (erovnul valutaSi)

bankebs gareT arsebuli naRdi fuli

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

12.0

7

01.0

8

02.0

8

03.0

8

04.0

8

05.0

8

06.0

8

07.0

8

08.0

8

09.0

8

10.0

8

11.0

8

12.0

8

M3

M2

dek-07 ianv-08 Teb-08 mar-08 apr-08 mai-08 ivn-08 ivl-08 agv-08 seq-08 oqt-08 noe-08 dek-08

sarezervo fuli 1,781.8 1,628.4 1,689.9 1,731.2 1,833.5 1,821.7 1,901.1 1,968.9 1,716.7 1,836.9 1,696.4 1,476.0 1,642.1

fuli mimoqcevaSi 1,310.5 1,191.8 1,228.1 1,296.3 1,404.9 1,354.8 1,416.9 1,476.2 1,449.6 1,407.6 1,355.8 1,253.6 1,290.7

bankebis depozitebi 471.3 436.5 461.8 434.9 428.6 466.9 484.3 492.7 267.1 429.3 340.6 222.4 351.4

sakorespondento

angariSze naSTebi277.1 278.2 287.7 282.5 282.8 304.5 296.1 284.6 150.4 88.2 103.4 114.1 121.2

cxrili 2.3.1sarezervo fuli Tvis bolo monacemebiT 2008 weli (mln lari)

cxrili 2.3.2fuladi agregatebi 2008 weli (mln lari)

ianv-08 Teb-08 mar-08 apr-08 mai-08 ivn-08 ivl-08 agv-08 seq-08 oqt-08 noe-08 dek-08

monetaruli agregati (M3) 4,056.9 3,993.4 4,075.9 4,333.9 4,206.6 4,234.1 4,373.5 3,941.2 4,017.8 3,936.6 3,966.1 4,305.1

monetaruli agregati (M2) 2,047.8 2,081.5 2,276.1 2,380.8 2,333.7 2,432.5 2,529.8 2,294.4 2,280.4 2,190.2 1,926.8 1,862.5

bankebs gareT arsebuli naRdi

fuli1,045.9 1,075.5 1,132.1 1,232.8 1,193.0 1,239.0 1,299.0 1,256.3 1,204.9 1,159.1 1,064.8 1,082.6

depozitebi erovnul valutaSi 1,001.8 1,006.0 1,144.0 1,148.0 1,140.7 1,193.5 1,230.8 1,038.1 1,075.5 1,031.1 862.0 779.9

depozitebi ucxour valutaSi 2,009.2 1,911.8 1,799.8 1,953.1 1,872.9 1,801.6 1,843.8 1,646.8 1,737.4 1,746.3 2,039.3 2,442.6



dan 22,7 procentamde gaizarda. erovnuli

valutiT gacemul kreditebze sargebeli

19,6 procentidan 24,1 procentamde gai-

zarda, xolo ucxouri valutiT sargebelma

18,7 procentidan 21,9 procentamde moimata.

amasTan, gaizarda gansxvaveba depozitebisa

da sesxebis saprocento ganakveTebs Soris

erovnuli valutiT 7.6 procentuli punqti-

dan 12.9-mde, xolo ucxouri valutiT 10.4-

dan 12.7 procentul punqtamde moimata.

amdenad, 2008 wels fulze moTxovnis di-

namika, qveyanaSi mimdinare procesebis gamo,

gansakuTrebiT rTulad prognozirebadi

iyo. miuxedavad imisa, rom saangariSo weli

gansxvavebuli maxasiaTeblebis mqone perio-

debad SeiZleba daiyos _ ekonomikuri saq-

mianobis gansxvavebuli aqtivoba, dedolari-

zaciis procesis dolarizaciiT Canacvleba,

sabiujeto deficitis zrda, saqarTvelos

erovnulma bankma monetaruli politikis

ganakveTis regulirebiTa da Sesabamisi fu-

lad_sakredito instrumentebis gamoyenebiT

SeZlo fulis miwodebis optimaluri doneze

SenarCuneba.

2.4 fulad-sakredito politikis

instrumentebi

2008 wlis ianvar_ivlisSi saqarTvelos

sabanko seqtori Warbi likvidobis pirobe-

bSi operirebda, maRali iyo sesxebis zrdis

tempi rac finansuri sistemis stabilu-

robisa da inflaciis riskebs warmoqmnida.

saqarTvelos erovnuli banki, Sesabamisad

monetaruli politikis gamkacrebas mimar-

Tavda, risTvisac iyenebda iseT instrumen-

tebs, rogoricaa sadepozito sertifikatebi

da erTdRiani sesxebi. wlis meore naxevar-

Si, agvistos omisa da finansuri krizisis

gavleniT gadavida likvidobis deficitis

mdgomareobaSi. Sesabamisad, seb_ma Seamsu-

buqa monetaruli politika da sxvadasxva

instrumentebze procentebis klebis para-

lelurad, SemoiRo politikis axali ins-

trumenti _ refinansirebis sesxebi.

sadepozito sertifikatebis bazris

mimoxilva

2008 wlis Warbi likvidobis amoRebis mTa-

var instruments sadepozito sertifikatebi

warmoadgenda. kerZod, gamoiyeneboda, ro-

gorc samTviani, ise erTkviriani vadianobis

instrumentebi. samTviani sadepozito serti-

fikatebi gankuTvnilia swored bankebisagan

Warbi likvidobis amosaRebad. Tavis mxriv,

seb_is erTkviriani sadepozito sertifikate-

bisaTvis dadgenili maqsimaluri saprocento

ganakveTi ki politikis ganakveTis rols as-

rulebda mis gauqmebamde, seqtembris TveSi.

monetaruli politikis komitetis gadawyve-

tilebiT, monetaruli politikis ganakveTi

ramdenimejer Seicvala zrdis mimarTule-

biT, rac wlis pirvel naxevarSi monetaruli

politikis gamkacrebis amsaxveli iyo.

komitetis gadawyve-

tilebis TariRi

miRebuli

gadawyvetileba

23.01.08 gaizarda 9%_dan 10%_mde



20.08.08 Semcirda 12%_dan 11%_mde

02.09.08 SemoRebuli iqnas refinansirebis sesxebi




cxrili 2.4.1politikis saprocento ganakveTis cvlileba

monetaruli politikis komitetis mier. 2008 weli

sul, 2008 wlis ianvar_agvistoSi auqcio-

nebze ganTavsda 1 150,2 mln laris mocu-

lobis 7 dRiani sadepozito sertifikatebi.

2008 wlis ganmavlobaSi auqcionebze ganTa-

vsda 692,6 mln laris moculobis samTviani

sadepozito sertifikatebi.

2008 wlis pirvel naxevarSi sadepozito

sertifikatebiT sabanko sistemidan likvi-



dobis amoRebam maqsimums martis bolosa8 da

aprilis dasawyisSi miaRwia. oqtomberSi wmin-

da amoReba9 nulovan maCvenebels miuaxlovda

da dekemberSi negatiuri gaxda, radgan am pe-

riodisaTvis, seb_is prioritetad ara likvi-

dobis amoReba, aramed misi miwodeba iqca.

refinansirebis sesxebi

likvidur resursebze moTxovnis mate-

bis, gazrdili biznes riskebis, bankebisa da

mTlianad ekonomikuri aqtivobis Senelebis

gamo, seb_ma seqtembridan Seamsubuqa mone-

taruli politika da likvidobis miwodeba-

ze gadavida. SemoRebuli iqna monetaruli

politikis axali instrumenti _ refinansi-

rebis (7 dRis vadianobis10) sesxi, romlis

minimaluri wliuri saprocento ganakveTi

iqca seb_is politikis ganakveTad. Sesabami-

sad, mas mniSvnelovani roli mieniWa ekono-

mikaSi saprocento ganakveTebis formirebis

procesSi. refinansirebis sesxebis gacema

xdeba auqcionis meSveobiT, saxelmwifo da

seb_is fasiani qaRaldebisa da seb_Si banke-

bis ucxouri valutis sakorespondento an-

gariSze ganTavsebuli ucxouri valutis

uzrunvelyofis qveS.

finansuri seqtorisa da mTlianad ekono-

mikuri aqtivobis wasaxaliseblad da defla-

ciis Tavidan acilebis mizniT, monetaruli

politikis komitetis gadawyvetilebiT mone-

taruli politikis ganakveTi Semcirda komi-

tetis 26 noembris sxdomaze erTi procentu-

li punqtiT 9 procentamde, xolo 24 dekem-

bris sxdomaze 8 procentamde. refinansirebis

sesxebis auqcionebze dafiqsirebuli saSualo

Sewonili procentebi emTxveoda politikis

ganakveTs an mcirediT aRemateboda mas.

politikis ganakveTis zegavlena ekonomi-

kaze vlindeba bankTaSorisi saprocento ga-

nakveTebis cvlilebiT. Tumca, 2008 wels po-

litikis ganakveTis gavlena SezRuduli iyo

im garemoebiT, rom bankTaSorisi bazari sak-

marisad ar aris ganviTarebuli saqarTvelo-

Si. sesxebis gacema bankebs Soris, garda erTi

saoperacio dRis vadianobis mqone sesxebisa,

yoveldRe ar xdeboda. garda amisa, bankTaSo-

risi sesxebis bazarze garigebebisa da mona-

wileTa nakleboba SeimCneoda, rac konkuren-

diagrama 2.4.1 refinansirebis sesxebi, maTi wliuri saSualo Sewonili procenti

da politikis ganakveTi (mln lari)

0 7%

8%

9%

10%

11%

12%

20

40

80

11.0

9.08

18.0

9.08

25.0

9.08

02.1

0.08

09.1

0.08

16.1

0.08

23.1

0.08

30.1

0.08

06.1

1.08

13.1

1.08

20.1

1.08

27.1

1.08

04.1

2.08

11.1

2.08

18.1

2.08

25.1

2.08

refinansirebis sesxebi (marcxena skala)

wliuri saSualo Sewonili saprocento ganakveTi (marjvena skala)

politikis ganakveTi (marjvena skala)

diagrama 2.4.2seb-is politikis ganakveTis gavlena sabazro procentebze

0%

5%

10%

20%

15%

02.0

8

03.0

8

04.0

8

05.0

8

06.0

8

07.0

8

08.0

8

09.0

8

10.0

8

11.0

8

12.0

8

TIBR-1 indeqsi politikis ganakveTi

8 2008 wlis 31 marts sadepozito sertifikatebiT amoRebam maqsimums _ 467,2 milion lars miaRwia.

9 wminda amoReba warmoadgens sadepozito sertifikatebiT likvidobis amoRebas gamoklebuli komerciuli bankebisaTvis seb–is

mier micemuli sesxebi.

10 Tumca, iyo SemTxvevebi roca refinansirebis sesxebi gaica 6 da 8 dRis vadianobiT.



cias amcirebda. saerTo jamSi, politikis

ganakveTis korelacia TIBR-7 indeqsTan11 0,58

iyo, xolo TIBR-1_Tan 0,56 iyo12.

erTdRiani sesxebi

erTdRiani sesxebi gankuTvnilia sabanko

sistemisaTvis likvidobis misawodeblad da

sabanko stabilurobis SesanarCuneblad. li-

kvidobis deficitis warmoqmnis SemTxvevaSi,

bankebs SeuZliaT seb_is sadepozito serti-

fikatebis, saxelmwifo obligaciebis, saqar-

Tvelos finansTa saministros saxazino val-

debulebebisa da seb_Si komerciuli bankebis

savaluto sakorespondento angariSze ricxu-

li naSTis uzrunvelyofiT aiRon erTdRiani

sesxebi. erTdRian sesxze dadgenili saprocen-

to ganakveTi, rogorc wesi sabazro ganakveT-

ze maRalia, raTa komerciulma bankma jer

fulad bazarze ecadon saWiro likvidobis

moZiebas da mere mimarTon erovnul banks.

2008 wels sul, seb_is mier gacemuli iqna

3 409, 2 mln laris erTdRiani sesxi komer-

ciul bankebze, roca 2007 wels, seqtemberSi

misi amoqmedebidan wlis bolomde, mxolod 90

mln lari. sesxze moTxovna 2008 wels maRali

ianvar_Tebervalsa da gansakuTrebiT, april_

maisSi iyo, rac likvidobis deficitis gamwva-

vebis periodebs emTxveva. gazrdili moTxov-

nis dasakmayofileblad seb_ma maisSi gazarda

erTdRiani kreditiT davalianebis saerTo

dRiuri limiti 75 mln_dan 150 mln laramde.

minimaluri sarezervo moTxovnebi

seb_is monetaruli politikis erT_erT

instruments minimaluri sarezervo moTxo-

vna warmoadgens. aRniSnuli instrumentis

gamoyenebiT seb_i zegavlenas axdens fulad

multiplikatorze. 2008 wlis ianvar_ivlis-

Si sabanko seqtoris swrafi ganviTarebis

paralelurad izrdeboda bankebis mier mo-

ziduli saxsrebic da Sesabamisad, saval-

debulo rezervebis odenobac. am periodSi

erovnuli da ucxouri valutiT moziduli

saxsrebisaTvis, garda ararezidentebisagan

nasesxebi saxsrebisa, sarezervo norma Sead-

genda 13 procents13.

agvistos TveSi saomarma moqmedebebma mniS-

vnelovani cvlilebebi Seitana sabanko sis-

temaSi. marTalia, sesxebis gacemam mkveTrad

iklo, magram omis Semdgom periodSi, aRiniS-

na bankebidan depozitebis gadineba, ramac

mniSvnelovnad SezRuda bankebis likvidoba.

komerciuli bankebisaTvis sakmarisi likvido-

bis uzrunvelyofisaTvis komerciuli banke-

bi jer srulad ganTavisufldnen sarezervo

moTxovnebis dacvisagan, Semdgom minimaluri

sarezervo moTxovnis dasarezervebeli Tanxa

ganisazRvra dadgenili normis Sesabamisi Tan-

xis 25 procentis odenobiT. xolo 2 oqtom-

bridan minimaluri sarezervo moTxovnis nor-

ma 13_dan 5 procentamde Semcirda.

2008 wels erovnuli da ucxouri valutiT

moziduli saxsrebis mixedviT Seqmnili mini-

maluri savaldebulo rezervis Senaxva xor-

cieldeboda Sesabamisad, erovnul valutiTa

da aSS dolariT. meoTxe kvartlidan ki ukve

SesaZlebeli gaxda evroTi moziduli saxs-

rebis minimaluri savaldebulo rezervebis

evroTi Senaxva, bankebis Sesabamis sarezervo

angariSze. ucxouri valutiT ganTavsebul

minimalur savaldebulo rezervebze komer-

ciul bankebs ericxebodaT wliuri 2 procen-

ti, Tumca noemberSi wesi Seicvala da dasari-

cxi procenti aSS dolariTa da evroTi ganTa-

vsebul rezervebze ganisazRvra rogorc aSS_s

federaluri sarezervo sistemisa da evropis

centraluri bankis politikis saprocento

ganakveTebs minus 0,5 procentuli punqti.

11 TIBR-1 indeqsi, moicavs sesxebs, romelTa vadianoba aris 1 saoperacio dRe da aris arauzrunvelyofili. TIBR-7 indeqsi

moicavs sesxebs, romelTa vadianoba aris 7 dRemde da moicavs yvela im arauzrunvelyofil sesxs, romelic ar Sedis TIBR1-is gaangariSebaSi.

12 korelaciis maCvenebeli gaangariSebulia 2008 wlis 20 Tebervlidan 2008 wlis 31 dekembris periodisaTvis.

13 minimaluri sarezervo moTxovna ar moicavs ararezidentebisagan nasesxeb saxsrebs.



3. sabanko seqtori


saqarTvelos sabanko sistema warmodgeni-

li iyo 20 sabanko dawesebulebiT, romel-

Tagan 18 gaxldaT saqarTvelos rezidenti

komerciuli banki, xolo 2 TurqeTisa da

azerbaijanis rezidenti bankebis filia-

lebi. amave periodisTvis funqcionireb-

da komerciuli bankebis 683 struqturu-

li erTeuli (124 filiali da 559 servis

centri). SedarebisTvis, 2007 wlis bolos

mdgomareobiT moqmedebda 540 struqtu-

ruli erTeuli.

aRsaniSnavia, rom saangariSo periodSi

saqarTveloSi funqcionireba daiwyo axal-

ma komerciulma bankebma, kerZod ss „eiC es

bi si banki saqarTvelom“ da ss „progres-

bankma“. „eiC es bi si banki saqarTvelos“ aq-

ciebis 70 procentis mflobelia „eiC es bi

si evropa (niderlandebi) bi vi“, xolo 30

procents flobs lixtenSteinSi registri-

rebuli „uingz isTebliSmenti“. ss „pro-

gresbankis“ aqciebis 100 procents flobs

Sps „kala kapitali“.

bolo ramdenime wlis ganmavlobaSi sa-

banko seqtoris zrdis tempi mniSvnelov-

nad aRemateboda ekonomikis sxva seqtore-

bis zrdas. aRniSnuli tendencia gagrZel-

da 2008 wlis pirvel naxevarSic, rodesac

saqarTvelos sabanko sistemaSi mkveTrad

gaizarda mTliani aqtivebis, valdebulebe-

bisa da saaqcio kapitalis moculoba. Tu-

mca agvistos omis Semdeg tendencia Sei-

cvala da sabanko seqtoris raodenobrivi

maCveneblebi daaxloebiT erTsa da imave

doneze SenarCunda.

mTlianobaSi, 2008 wels sabanko sistemis

mTliani aqtivebis moculoba 7,208 mln-

dan 8,866 mln-mde gaizarda. amave periodSi

mTliani valdebulebebis moculoba 5,737

mln-dan 7,348 mln-mde, xolo saaqcio kapi-

tali 1,471 mln-dan 1,517 mln-mde gaizarda.

sabanko sistemaSi aqtivebis zrda Tanabrad

ganpirobebuli iyo, rogorc fuladi saxs-

rebisa da wminda sesxebis, aseve ZiriTadi

saSualebebisa da aramaterialuri aqtive-

bis matebiT.

komerciuli bankebis mimarT mTliani sa-

sesxo davalianeba 2008 wels 31 procentiT

gaizarda da jamurad 6 mlrd-s gadaaWarba.

sakredito portfelis mTlian Sida pro-

duqtTan fardoba 2008 wels 27,5 procen-

tidan 31,8 procentamde gaizarda.

sakredito portfelis zrdis parale-

lurad sabanko seqtorSi izrdeboda mozi-

duli depozitebis moculobac. 2008 wlis

pirvel or kvartalSi depozitebis mocu-

loba gaizarda erovnuli valutiT (997.2

diagrama 3.1.sesxebisa da depozitebis fardoba mSp-sTan.

0%

5%

10%

15%

20%

25%

30%

35%

200220012000199919981997 2003 2004 2005 2006 2007 2008

sabanko seqtori

sesxi depoziti


mln laridan 1193.5 mln laramde), xolo

Semcirda ucxouri valutiT (1878.2 mln

laridan 1801.6 mln laramde). Tumca 2008

wlis meore nawilSi tendencia calsaxad

Seicvala: erovnuli valutiT ganTavsebuli

depozitebis odenobam sagrZnoblad iklo.

mxolod agvistos 5 dReSi omis periodSi

depozitebis moculoba 10 procentiT Sem-

cirda, Tumca mdgomareobis dastabilure-

bisTanave depozitebis mniSvnelovani nawi-

li kvlav daubrunda sabanko seqtors.

saqarTvelos sabanko seqtorSi 2003-2007

wlebSi wminda mogebis fardoba mTlian

aqtivebTan saSualod 2.7 procents, xolo

saaqcio kapitalTan 12,7 procents Seadgen-

da. samwuxarod 2008 wlis bolo or kvar-

talSi warmoCenili ekonomikuri da finan-

suri winaaRmdegobebis Sedegad bankebis

momgebianoba sagrZnoblad daeca. sabanko

seqtoris jamurma zaralma 2008 wels 215.7

mln lari Seadgina. sabanko sistemis za-

ralis mniSvnelovani nawili negatiurad

klasificirebuli sesxebis damatebiT da-

rezervebis Sedegia. kerZod, komerciulma

bankebma gazardes SesaZlo danakargebis

rezervi14, ramac 2008 wlis bolosaTvis

mTliani sesxebis 9,0 procenti Seadgina,

maSin, roca 2007 wlis bolos mxolod 3,6

procenti iyo. rac Seexeba sabanko seqto-

ris saoperacio Sedegs (mogeba darezerve-

bamde), man 392 milioni lari Seadgina.

2009 wlis dasawyisSi wamyvan qarTul

bankebs ucxoeTidan moziduli Tanxebis

ukan dabrunebis vada udgebodaT. aseT Se-

mTxvevaSi, bankebi xSirad axerxebdnen vada

gaegrZelebinaT, radgan es orive mxares,

msesxebelsac da gamsesxebelsac xels aZ-

levda. Tumca msoflios finansur kri-

zisTan dakavSirebiT gaCnda safrTxe, rom

ucxoelebs aRar gaegrZelebinaT sesxi

qarTuli bankebisaTvis. amisaTvis mzadeba

qarTulma bankebma droulad daiwyes. ukve

oqtombris TveSi sabanko seqtorSi 150-300

milioni laris Warbi likvidoba iricxebo-

da komerciuli bankebis angariSebze.

mdgomareobis gamosasworeblad umniS-

vnelovanesi faqtori iyo saerTaSoriso

organizaciebis gadawyvetileba damatebiTi

saxsrebi miewodebinaT qarTuli bankebisa-

Tvis. 2008 wlis bolos qarTuli komerciu-

li bankebis mier miRweuli iqna SeTanxmeba

saerTaSoriso safinanso korporacias (IFC),

evropis rekonstruqciisa da ganviTarebis

banks (EBRD), aSS_s kerZo ucxouri inves-

ticiebis korporacias (OPIC), germanuli

sarekonstruqcio sakredito instituts

(KfW), niderlandebis mewarmeobis ganvi-

Tarebis banks (FMO), mSobel bankebTan da

jgufebTan damatebiTi saxsrebis gamoyo-

fis Taobaze. Sedegad qarTulma bankebma

miiRes Tanxebi sesxis, subordinirebuli

diagrama 3.2sabanko seqtoris momgebianobis dinamika

(2003-2008 ww., mln lari)

-20.00% (250)

(200)

(150)

(100)

(50)

-

50

100

150

200

250

-15.00%

-10.00%

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

2003 2004 2005 2006 2007 2008

wminda mogeba ROA ROE

-2.6%

-12.6%

14 Tu ar moxda riskis materializireba daemateba momavali wlis mogebas.

sabanko seqtori


diagrama 3.3kapitalis adekvaturobis koeficienti

0

5

10

15

25

20

12.2003 12.2004 12.2005 12.2006 12.2007 12.2008

sazedamxedvelo kapitalis adekvaturobis koeficienti

pirveladi kapitalis adekvaturobis koeficienti

sesxis da kapitalSi uSualo monawileobis

formiT. jamurad aRniSnuli saxsrebi sak-

marisi iyo bankebis mier 2009 wlis valde-

bulebebis gasastumreblad sesxebis Sem-

cirebis saWiroebis gareSe.

sabanko seqtori 2008 wlis bolos mdgo-

mareobiT srulad akmayofilebda kapita-

lis adekvaturobis koeficientebs. sa-

zedamxedvelo kapitalis adekvaturobis

koeficienti tradiciulad maRalia. 2008

wels, miuxedavad klebisa, igi mainc maRali

rCeba savaldebulo 12 procentian moTxo-

vnasTan SedarebiT da 13.9 procents Sead-

gens. pirveladi kapitalis adekvaturobis

koeficienti kidev ufro maRali iyo wlis

bolosaTvis da 14.4 procenti Seadgina.

2008 wlis ganmavlobaSi sabanko seqtorSi

likvidobis koeficienti, romelic jamuri

likviduri aqtivebis mTlian valdebule-

bebTan fardobiT izomeba, 39 procentidan

28 procentamde Semcirda, rac aseve maRa-

lia savaldebulo 20 procentian normas-

Tan SedarebiT.

mTlianobaSi, aRsaniSnavia, rom saqar-

Tvelos sabanko seqtors Sokebis Sewovis

Zalze maRali unari gaaCnda da gaaCnia.

amis mizezia erTi mxriv, konservatiuli

sazedamxedvelo moTxovnebis gamo sabanko

sistemis SedarebiT dabali damokidebu-

leba mozidul saxsrebze da meore mxriv,

finansuri siRrmis jer kidev aseve dabali

done. zemoaRniSnuli ki, sesxebis Semcire-

bis saWiroebis gareSe, sagareo valdebule-

bebis refinansirebis unarsa da depozita-

rebis mxridan sabanko sistemisadmi ndobis

SenarCunebasTan erTad, sabanko seqtoris

Semdgomi ganviTarebis maRal potencialze

miuTiTebs.

sabanko seqtori


4. sagadaxdo sistema

saangariSo periodSi mimdinareobda saga-

daxdo sistemis srulyofis, infrastruqtu-

ris gaumjobesebisa da maTi momsaxurebis

RonisZiebaTa ganxorcieleba. am mimarTu-

lebiT Sesrulebuli samuSaoebidan aRsa-

niSnavia saangariSsworebo saqmianobasTan

dakavSirebuli sistemebis _ RTGS, MGR, ODB, „viza“ plastikuri baraTebiT erovnul va-

lutaSi warmoebuli operaciebis kliringis

sistemis (GNNSS) eqspluatacia-momsaxureba,

sadepozito sertifikatebisa da saxelmwifo

obligaciebis auqcionis informaciis damu-

Saveba, seb-Si erovnul da ucxour valutaSi

gaxsnili angariSebis sxvadasxva saxis momsa-

xureba. aseve, saqarTvelos finansTa saminis-

tros saxazino samsaxuris mier warmodgeni-

li konvertaciebis, sagadaxdo davalebebis,

akreditivebis momsaxureba da warmodgenili

sainkaso davalebebis Sesruleba.

2008 wels RTGS sistemiT sul damuSavda

5,249,614 sagadaxdo sabuTi, saerTo TanxiT

52,246,786,589 lari. zrdis maCvenebelma wina

welTan SedarebiT raodenobrivad Seadgina 3

procenti, xolo Tanxobrivad _ 43 procenti.

GNNSS-is (Visa_s angariSsworebis sistema)

meSveobiT damuSavebuli informaciis Tanxo-

brivma maCvenebelma Seadgina 41,441,262 lari.

2008 wels Sesrulebul samuSaoebs Soris

gansakuTrebuli adgili ekava angariSswore-

bis integrirebuli sistemis (realur droSi

angariSsworebisa da saxelmwifo fasiani qa-

Raldebis sistema) reformis proeqts, raSic

saqarTvelos erovnul banks teqnikur dax-

marebas uwevda msoflio banki. am proeqtis

farglebSi, saqarTvelos erovnulma bankma

gasuli wlis 10 ivliss gamoacxada Ria sa-

erTaSoriso oretapiani tenderi sistemis

Sesyidvaze. satendero winadadeba warmoad-

gina xuTma kompaniam (msoflioSi am saqmiano-

biT dakavebulma TiTqmis yvela kompaniam).

saqarTvelos erovnul bankSi am kompaniebis

(garda erTisa) mier Catarda sistemebis pre-

zentaciebi.

warmodgenili sistemebis Sefasebebis sa-

fuZvelze, tenderis meore etapze monawile-

obis misaRebad mowveul iqnen is sami kom-

pania, romelTa sistemebis funqcionalur-

teqnologiurma SesaZleblobebma da sxva

komponentebma srulad daakmayofiles seb-

is ZiriTadi principebis da strategiuli

mimarTulebebis moTxovnebi.

gasuli wlis mniSvnelovan RonisZiebad

aseve unda CaiTvalos saqarTvelos erovnu-

li bankis prezidentis 2008 wlis 5 dekembris

N 336 brZanebiT, reformebis mxardasaWerad,

„erovnuli sagadaxdo sistemebis komitetis“

Camoyalibeba, romlis wevrebi arian saqar-

Tvelos msxvili komerciuli bankebis, sa-

qarTvelos bankebis asociaciis, saqarTve-

los finansTa saministros, safinanso ze-

damxedvelobis saagentosa da saqarTvelos

erovnuli bankis warmomadgenlebi.

diagrama 4.1sabuTbrunvis maCvenebeli drois realuri reJimis angariSswore-

bis sistemaSi (2002-2008 ww.)

0

2000000

4000000

600000060000

40000

20000

02002 2003 2004 2005 2006 2007 2008

raodenoba Tanxa

raodenoba

Tanxa (ml

n)

sagadaxdo sistema


5. Sida auditi da sabuRaltro aRricxva


nuli bankis Sidaauditoruli samsaxuri iye-

nebda „riskze dafuZnebuli dagegmvis meTo-

dologias“ da Tavis saqmianobas warmarTavda

erovnuli bankis sabWos mier damtkicebuli

gegmiT. 2008 wlis manZilze Sidaauditoru-

li samsaxuris mier ganxorcielda 21 gegmiu-

ri da 2 aragegmiuri Sidaauditoruli Semo-

wmeba da mimoxilva.

saangariSo periodis manZilze, Sidaau-

ditoruli samsaxuri sistematiurad axor-

cielebda samsaxuris mier gasuli periodis

Semowmebebis Sedegad gaweuli rekomenda-

ciebis monitorings „Sidaauditoruli sam-

saxuris mier gaweuli rekomendaciebis Ses-

rulebis monitoringisa da maTi Sesrulebis

mdgomareobis Sesaxeb angariSis momzadebis

politikisa da procedurebis“ Sesabamisad.

aseve, Sidaauditoruli samsaxuri Tavisi

kompetenciis farglebSi TanamSromlobda

erovnuli bankis gare auditorTan da ar-

sebiT rols asrulebda gare auditorebis

mier gaweuli rekomendaciebis Sesrulebis

mdgomareobis monitoringis procesSi, ro-

melsac axorcielebda „gare auditoris mier

gaweuli rekomendaciebis Sesrulebis moni-

toringis politikisa da procedurebis“ Se-

sabamisad.

saangariSo periodSi, Sidaauditoruli sa-

msaxuris mier SemuSavebul iqna meTodolo-

giuri dokumentebi, romlebic miznad isaxa-

vda gaweuli momsaxurebis xarisxis Semdgom

gaumjobesebas. kerZod, Sidaauditoruli

samsaxuris saqmianobis mniSvnelovani sfe-

roebisaTvis saukeTeso praqtikis danergvis

kuTxiT, Sesabamisi standartebisa da sakuTa-

ri dagrovili gamocdilebis safuZvelze sa-

xelmZRvanelod miRebul iqna „saqarTvelos

erovnuli bankis Sidaauditoruli samsaxu-

ris mier Sidaauditoruli Semowmebis anga-

riSis momzadebisa da wardgenis wesi“. aseve,

SemuSavebul iqna „Sidaauditoruli samsaxu-

ris saqmianobis dokumentirebis politika

da procedurebi“, romlis umTavresi mizani

Sida auditis angariSebSi asaxuli sakiTxe-

bisa da daskvnebis uzrunvelyofa sando da

relevanturi dokumentaluri masalebiT da

maTi sistematizaciisa da Senaxvis proce-

durebis formalizeba iyo.

saangariSo periodSi, Sidaauditoruli

samsaxuri TanamSromlobda ssf-s „usafr-

Txoebis meqanizmebis Sefasebis“ misiasTan.

aseve, mWidrod TanamSromlobda sxva cen-

traluri bankebis Sidaauditoruli samsa-

xurebTan.

2008 wels xorcieldeboda samuSaoebi,

romelic miznad isaxavda finansuri anga-

riSgebisa da buRaltruli aRricxvis sis-

temis srulyofas, am mimarTulebiT prio-

ritetebis sworad gansazRvrasa da sa-

qmianobis efeqturobis amaRlebas. am ku-

TxiT mniSvnelovani yuradReba eqceoda da

eqceva gare da Sida auditis rekomendacie-

bis Sesrulebas.

saerTaSoriso savaluto fondis „usa-

frTxoebis meqanizmebis Sefasebis“ misiis

rekomendaciebis Tanaxmad, saangariSo pe-

riodSi cvlileba Sevida „saqarTvelos

erovnuli bankis Sesaxeb“ saqarTvelos or-

ganuli kanonis Sesabamis muxlSi, romelic

erovnul bankSi sabuRaltro aRricxvis

warmarTvis safuZvlad aRiarebs finansuri

angariSgebis saerTaSoriso standartebs.

cvlilebebi Sevida da axleburad Camoyali-

bda organuli kanonis Tavi „safinanso de-

bulebebi“.

Sida auditi da sabuRaltro aRricxva


6. sakaso-saemisio samuSaoebis organizacia

fulis niSnebiT ekonomikis moTxovnis

Seuferxebeli dakmayofilebis uzrunvel-

sayofad, saangariSo periodSi xorcielde-

boda samuSaoebi, romlebic miznad isaxavd-

nen fulis damuSavebis srulyofas, bankno-

tebisa da monetebis eqspertizis saqmianobis

gaumjobesebas, mimoqcevisaTvis uvargisi

fulis niSnebis ganadgurebas, erovnuli

valutis propagandas da normatiuli ba-

zis daxvewas.

2008 wlis 31 dekembris mdgomareobiT, mi-

moqcevaSi arsebuli naRdi fulis odenobam,

komerciuli bankebisa da organizaciebis

salaros naSTebis CaTvliT, 1290.7

mln lari Seadgina. maT Soris banknotebma -

1266.1 mln lari /58.6 mln furceli/, xolo

monetebma - 24.6 mln lari /128.2 mln cali/,

1 da 2 laris nominalis monetebisa da 10 la-

ris Rirsebis saiubileo monetebis CaTvliT

(diagrama 6.1).

saangariSo periodis bolos, mimoqcevaSi

arsebuli naRdi fulis saerTo TanxaSi bank-

notebma 98.1 procenti, xolo monetebma 1.9

procenti Seadgina.

2008 wlis dasawyisTan SedarebiT, amave

wlis 31 dekembrisaTvis mimoqcevaSi naRdi

fulis moculoba 1.51 procentiT Semcirda,

maT Soris banknotebis raodenoba Semcirda

20.1 mln lariT, xolo monetebi 311.6 aTasi

lariT gaizarda. 2007 wels ki mimoqceva-

Si naRdi fulis moculoba daaxloebiT 41.0

procentiT gaizarda, maT Soris banknotebis

- 371.4 mln lariT, xolo monetebi - 9.5 mln

lariT (2007-2008 wlebis mimoqcevaSi naRdi

fulis mimoqcevis dinamikas gviCvenebs dia-

grama 6.2).

aRsaniSnavia, rom 2008 wlis dasawyisi-

dan mimoqcevaSi naRdi fulis moculoba am

periodisaTvis damaxasiaTebeli Cveulebrivi

dinamiurobiT xasiaTdeboda. kerZod, wlis

pirvel naxevarSi ekonomikuri aqtivobis

klebis paralelurad Semcirda fulze mo-

Txovna, ivnisis Tvidan ki daiwyo misi Tan-

daTanobiTi zrda. agvistos dasawyisSi ful-

ze moTxovnam piks miaRwia, xolo Semdgom,

qveyanaSi ganviTarebuli cnobili movlene-

bidan gamomdinare, Semcirda moTxovna ero-

1 lari

2 lari

5 lari

10 lari

20 lari

50 lari

100 lari

200 lari

xurda

diagrama 6.1mimoqcevaSi arsebuli naRdi fuli

13.10%

1.78%0.72%0.99%3.47%

9.47%

15.49%

22.15%

32.83%

0.0

200.0

400.0

600.0

1000.0

1600.0

1200.0

1400.0

800.0

31.1

2

1.12

1.11

1.10

1.09

1.08

1.07

1.06

1.05

1.04

1.03

1.02

1.01

diagrama 6.2 naRdi fulis mimoqcevis dinamika 2007-2008 wlebSi

1310.5

1191.8

1228.1

1296.3

1404.9

1354.81416.8

1476.2

1449.6

1407.6

1355.81253.6

1310.5

1290.7

1143.81114.0

1085.3

1070.6

1030.8

972.7

927.1

899.1

861.4

843.3

838.4929.5

2007 2008

sakaso-saemisio samuSaoebis organizacia


vnul valutaze da Sesabamisad gaizarda mo-

Txovna ucxour valutaze.

saangariSo periodSi mcirediT gaizarda

moTxovna maRali nominalis kupiurebze. ker-

Zod, Tu 2008 wlis dasawyisSi 50, 100 da 200

laris nominalis banknotebis xvedriTi wili

mimoqcevaSi arsebuli mTliani Tanxis 65.6 pro-

cents Seadgenda, saangariSo periodis bolos

es maCvenebeli 66.1 procenti iyo (mxolod 200

lariani banknotis xvedriTi wili mimoqcevaSi

8.7 procentidan 13.0 procentamde gaizarda).

rac Seexeba sxva nominalis banknotebs, maTi

xvedriTi wili mimoqcevaSi 32.6 procentidan

31.9 procentamde Semcirda.

saangariSo periodSi ganxorcielda ero-

vnuli bankis sacavebSi dagrovili Semdgo-

mi gamoyenebisaTvis uvargisi (moZvelebuli)

banknotebis sakontrolo gadaTvla-ganad-

gurebis procesi. am RonisZiebis organize-

bulad da usafrTxod warmarTvis mizniT,

saqarTvelos erovnuli bankis, iusticiis,

finansTa, Sinagan saqmeTa da ekonomikuri

ganviTarebis saministroebis specialiste-

bis monawileobiT Seiqmna Sesabamisi komisia.

sul ganadgurebul iqna 1 292 401 960 laris

(181 374 025 furceli) banknoti, romlis sa-

erTo wonam 128,8 tona Seadgina.

saqarTvelos erovnuli bankis sakaso

centridan da filialebidan, komerciuli

bankebidan, valutis gadamcvleli punqte-

bidan, saqarTvelos finansTa saministros

finansuri policiidan gamogzavnil da fi-

zikuri pirebis mier Semotanil fulad niS-

nebze Catarebuli eqspertizis Sedegad 2008

wels gamovlenil iqna Semdegi yalbi fulis

niSnebi (ix. cxrili 6.1).

2008 wels gamovlenili 50 TeTris Rirebu-

lebis yalbi monetebis raodenoba wina wel-

Tan SedarebiT gazrdilia 63,2 procentiT,

xolo laris banknotebis raodenoba gazrdi-

lia 66,8 procentiT (nominalebis mixedviT

2007-2008 wlebSi gamovlenili yalbi laris

banknotebi raodenoba monetebi raodenoba

1 lari 25 10 lari 4

2 lari 104 1 lari 2 421

5 lari 1 127 2 lari 2

10 lari 560 50 TeTri 3 802

20 lari 410 1 funti 1

50 lari 88 2 evro 1

100 lari 71

200 lari 213

5 dolari 3

10 dolari 2

20 dolari 4

50 dolari 97

100dolari 435

20 sterlingi 1

20 evro 20

50 evro 6

100 evro 22

200 evro 34

500 evro 2

500 rubli 2

1000 rubli 5

cxrili 6.1yalbi fulis niSnebi nominalebis mixedviT



10 lari

25 lari

50 lari

100 lari

300 lari

1000 lari

diagrama 6.42008 wels realizebuli oqros sainvesticio monetebi

47.61%

22.66%

0.05%0.58%12.57%

16.52%

banknotebis raodenobebi ix. diagrama 6.3).

yalbi dolarebis raodenoba gaizarda 22,7

procentiT, yalbi evros banknotebis raode-

noba ki 3,8-jer metia 2007 wels gamovlenil

yalbi evros banknotebis raodenobaze. rac

Seexeba 1 laris Rirebulebis yalb monete-

bs, 2007 wlis ganmavlobaSi gamovlenili iyo

mxolod 17 cali yalbi moneta, xolo saan-

gariSo periodSi – 2421 cali (gaizarda

142,4 -jer) yalbi moneta.

saangariSo periodSi erovnuli banki me-

Todologiur daxmarebas uwevda rogorc

komerciul bankebsa da valutis gadamcvlel

punqtebs, ise iuridiul da fizikur pirebs

kadrebis kvalifikaciis amaRlebis saqmeSi.

kerZod, sabanko da arasabanko sistemis sa-

laros muSakebisaTvis naRd fulTan muSa-

obis kvalifikaciis asamaRleblad swavleba

Cautarda da momzadda 682 molare. sainkasa-

cio momsaxurebasTan dakavSirebiT swavleba

gaiara 38-ma inkasatorma.

fulis muzeumisa da quTaisis filialis

meSveobiT xorcieldeboda rogorc sain-

vesticio, ise saiubileo monetebis reali-

zacia.

2008 wels realizebuli produqciidan

Semosuli Tanxa sul 1 346 365 lars Seadgens

(maT Soris 1 169 462 lari – sainvesticio

oqros monetebis realizaciidan Semosuli

Tanxaa), xolo sxva produqciidan Semosuli

Tanxa – 176 903 lars. es Tanxa 330 035 aTa-

si lariT aRemateba 2007 wels realizebuli

produqciidan Semosul Tanxas.

2008 wels oqros sainvesticio monetebis

realizaciidan Semosuli Tanxa 31.2 pro-

centiT aRemateba wina wels Semosul Tanxas

(2007 wels es Tanxa 891 346 lars Seadgenda).

saqarTvelos erovnuli banki numizmati-

kis moyvarul adgilobriv Tu saerTaSori-

so koleqcionerebs momavalSic SesTavazebs

sxva axal da saintereso monetebs.

diagrama 6.32007-2008 wels gamovlenili yalbi laris banknotebis Tanafardoba

0

200

400

600

1000

1200

800

2007

1 lari 2 lari 5 lari 10 lari 20 lari 50 lari 100 lari 200 lari

2008



7. sazogadoebasTan urTierToba da

saerTaSoriso TanamSromloba


maqsimaluri gamWvirvalobis uzrunvelsayo-

fad da sabanko sistemaSi mimdinare proce-

sebis sazogadoebisaTvis operatiulad miwo-

debis mizniT, erovnuli banki operatiulad

avrcelebda presrelizebsa da statistikur

monacemebs, regularulad marTavda Sesaba-

mis Temebze preskonferenciebs, konferen-

ciebs, brifingebs, seminarebs, prezentacie-

bsa da Sexvedrebs.


Sesaxeb informaciis sazogadoebisTvis ope-

ratiulad da obieqturad miwodebis mizniT,

saangariSo periodSi Catarda ori treningi

JurnalistebisaTvis.

2008 wels saqarTvelos erovnulma bank-

ma moamzada da gamosca Semdegi literatu-

ra: „saqarTvelos erovnuli banki. ZiriTadi

mimarTulebebi da funqciebi“ (qarTul da

inglisur enebze); „saqarTvelos erovnuli

bankis wliuri angariSi. 2007“ (yovelwliu-

ri, qarTul da inglisur enebze); „monetaru-

li da fiskaluri mimoxilva“ (yovelTviuri);

„inflaciis mimoxilva“ (yovelkvartaluri,

qarTul da inglisur enebze); „finansuri

stabilurobis angariSi. 2008“ (qarTul da

inglisur enebze); „saqarTvelos sagadasax-

delo balansi. 2007“ (yovelwliuri, qarTul

enaze); „monetaruli da sabanko statistikis

biuleteni“ (yovelkvartaluri, qarTul da

inglisur enebze. 2007 wlis wliuri da 2008

wlis pirveli, meore, mesame kvartalebi).

saqarTvelos erovnuli bankis gamoceme-

bis eleqtronuli versiebi xelmisawvdomia

saqarTvelos erovnuli bankis oficialur

internetgverdze (www.nbg.ge). saangariSo periodSi, saerTaSoriso Tana-

mSromlobis gaaqtiurebisa da calkeul sfe-

roebSi ucxo qveynebis centraluri bankebis

gamocdilebis gaziarebis mizniT, saqarTve-

los erovnuli banki TanamSromlobda mso-

flios sxvadasxva qveynebis, maT Soris, fi-

neTis, SvedeTis, litvis, estoneTis, CexeTis,

poloneTis, ungreTis, inglisis, italiis,

espaneTis, luqsemburgis, avstriis, Turqe-

Tisa da israelis centralur bankebTan.

2008 wels Tbiliss stumrobda saerTaSo-

riso savaluto fondis ramdenime teqnikuri

misia, romlebic, saerTaSoriso gamocdilebis

Sesabamisad, saqarTvelos erovnul banksa da

safinanso zedamxedvelobis samsaxurs dae-

xmarnen institucionaluri urTierTobebis

efeqtianad warmarTvaSi. saerTaSoriso sa-

valuto fondis „usafrTxoebis meqanizmebis

Sefasebis“ misiam ganixila saqarTvelos ero-

vnuli bankis kontrolis, sabuRaltro aRri-

cxvis, angariSgebisa da auditis sistemebi da

aRiniSna, rom erovnul banks usafrTxoebis

ganviTarebuli da Zlieri meqanizmebi gaaCnia.

savaluto fondis teqnikuri daxmarebiT mo-

xda saerTaSoriso tranzaqciebis angariSgebis

sistemis warmatebiT danergva saqarTveloSi.

msoflio bankTan saqarTvelos erovnuli

bankis TanamSromlobis farglebSi 2008 wels

ori mniSvnelovani proeqtis ganxorcieleba

daiwo, kerZod, axali, Tanamedrove da usa-

frTxo realur droSi bankTaSorisi anga-

riSsworebisa da, aseve, rezervebis marTvisa

da buRaltruli aRricxvis axali sisteme-

bis danergva, amasTan erTad, saerTaSoriso

rezervebis marTvis gaumjobeseba, raSic sa-

qarTvelos erovnul banks msoflio bankis

mier daqiravebuli saerTaSoriso donis eqs-

pertebi exmarebian.

sazogadoebasTan urTierToba da saerTaSoriso TanamSromloba


8. saqarTvelos erovnuli bankis personali

da kvalifikaciis amaRlebis organizeba

2008 wels, saqarTvelos erovnuli bankis

struqturis optimizaciis mizniT ganxor-

cielebuli zogierTi struqturuli er-

Teulis reorganizaciis Sedegad, moxda ga-

rkveuli departamentebis gamsxvileba arse-

buli struqturuli qvedanayofebis bazaze.

„saqarTvelos erovnuli bankis Sesaxeb“ sa-

qarTvelos organul kanonSi ganxorciele-

buli cvlilebebis Sesabamisad, komerciuli

bankebisa da arasabanko sadepozito dawese-

bulebebis zedamxedvelobis funqciebis sa-

qarTvelos safinanso zedamxedvelobis sa-

agentoSi gadatanis gamo, 2008 wlis maisSi

gauqmda saqarTvelos erovnuli bankis zeda-

mxedvelobis departamenti.

gasuli wlis 31 ivlisidan gauqmda saqar-

Tvelos erovnuli bankis baTumis, foTisa

da gurjaanis filialebi.


nul bankSi faqtobrivad momuSave TanamSro-

melTa raodenoba 307 erTeuliT Semcirda.

rac ZiriTadad, reorganizaciis Sedegad

saStato erTeulebis Semcirebam, erovnuli

bankis filialebis saqmianobis Sewyvetam da

sxvadasxva teqnikuri tipis servisebis gare

momwodebelTan gatanam gamoiwvia.

2008 wlis bolos, saqarTvelos erovnu-

li bankis TanamSromelTa 55 procenti qa-

lebi Seadgenen. mTliani TanamSromlebis 86

procenti aris umaRlesi ganaTlebiT, xolo

asakobriv WrilSi TanamSromlebi ase na-

wildeba 31 wlamde _ 13 procenti, 31_dan

51_mde _ 66 procenti xolo 51 zemoT _ 21

procenti. rac Seexeba TanamSromelTa sta-

Jis mixedviT dayofas iseni sami ZiriTadi

jgufis mixedviT nawildebian 10 wlamde mu-

Saobis staJis 34 procenti, 10_20 wlamde 46

procenti da 20 meti 14 procenti.

2008 wels, sazRvargareTis saswavlo cen-

trebSi saqarTvelos erovnuli bankis Tana-

mSromelTa kvalifikaciis amaRleba, Ziri-

Tadad, ucxouri mxaris dafinansebiT xde-

boda. erTi wlis ganmavlobaSi safrangeTis

centralur bankSi, germaniis bundesbankSi,

niderlandebis bankSi, italiis centralur

bankSi, latviis centralur bankSi, polone-

Tis erovnul bankSi, venis gaerTianebul ins-

titutsa da saerTaSoriso savaluto fondis

institutSi, aseve sxva qveynebis centralur

bankebSi swavleba gaiara saqarTvelos erov-

nuli bankis 104-ma specialistma.

2008 wlis maissa da ivnisSi, ucxoeli par-

tniorebis mxardaWeriT, luqsemburgis sa-

finanso teqnologiebis gadacemis saagentos

eqspertebis mier erovnul bankSi Catarda 3

seminari, romelSic monawileoba miiRes ro-

gorc erovnuli bankis, aseve komerciuli

bankebis TanamSromlebma.

saqarTvelos erovnuli bankis personali da kvalifikaciis amaRlebis organizeba


9. normatiul-samarTlebrivi bazis ganviTareba

2008 wels saqarTvelos erovnuli bankis

mier miRebul iqna da normatiuli aqtebis

saxelmwifo reestrSi gatarda 12 norma-

tiuli aqti. maT Soris:

saqarTvelos erovnuli bankis preziden-

tis 2007 wlis 31 dekemberis brZaneba N344

„valutis gadamcvleli punqtebis regis-

traciisa da regulirebis wesis damtki-

cebis Sesaxeb“, romelmac ,,saqarTvelos

erovnuli bankis Sesaxeb“ organul kanonSi

ganxorcielebuli cvlilebebis Sesabami-

sad, mniSvnelovnad gaamartiva valutis ga-

damcvleli punqtebis saqmianobis reguli-

rebis procedurebi, kerZod, aRniSnuli sa-

xis saqmianoba savaldebulo licenzirebis

nacvlad daeqvemdebara registracias. aseve

gamartivda punqtis aRWurvisaTvis saWiro

moTxovnebi.

saqarTvelos erovnuli bankis sabWos

2008 wlis 15 Tebervlis N 2 dadgenile-

biT damtkicebuli „saqarTvelos erovnuli

bankis mier Sesyidvebis ganxorcielebis we-

sis Sesaxeb“ debuleba, romelmac saqarTve-

los konstituciis da „saqarTvelos erov-

nuli bankis Sesaxeb“ saqarTvelos organuli

kanoniT erovnuli bankisaTvis miniWebuli

damoukideblobis Sesabamisad gansazRvra

bankis Sesyidvebis ganxorcielebis zogad

samarTlebrivi, organizaciuli da ekonomi-

kuri principebi.

saqarTvelos erovnuli bankis sabWos 2008

wlis 11 agvistos N12 dadgenileba ,,saqar-

Tvelos erovnuli bankis, rogorc bolo

instanciis kreditoris mier komerciuli

bankebisaTvis sesxis gacemis wesis damtki-

cebis Sesaxeb“, romelic gansazRvravs likvi-

dobaSi finansuri siZneleebis mqone komer-

ciuli bankis, sabanko seqtoris mdgradobis

uzrunvelyofis, agreTve sabanko seqtorSi

sistemuri problemebisa da SesaZlo krizi-

sis ganviTarebis Tavidan acilebis mizniT

da sazogadoebrivi interesebis gaTvaliswi-

nebiT saqarTvelos erovnuli bankis mier

komerciuli bankebis dakreditebis wess.

saqarTvelos erovnuli bankis preziden-

tis 2008 wlis 2 seqtembris N234 brZaneba

,,saqarTvelos erovnuli bankis mier ko-

merciuli bankebze refinansirebis sesxebis

gacemis Sesaxeb“ debulebis damtkicebis Ta-

obaze“. aRniSnuli debulebiT sabanko sis-

temaSi likvidobis marTvisa da saprocento

ganakveTebis regulirebis mizniT .saqarTve-

los erovnuli banki komerciul bankebze

gascems refinansirebis sesxs _ moklevadian

fulad resurss Sesabamisi uzrunvelyofiT.

saqarTvelos erovnuli bankis sabWos 2008

wlis 2 dekembris N14 dadgenileba ,,mimo-

qcevidan amoRebuli fulis niSnebis (bank-

notebis) ganadgurebis wesis damtkicebis

Sesaxeb“, romliTac regulirdeba mimoqcevi-

dan amoRebuli da mimoqcevisaTvis uvargisi

qarxnuli wunis mqone erovnuli valutis _

laris banknotebis ganadgurebis procedu-

rebi.

2008 wlis 14 marts ganxorcielebuli

sakanonmdeblo cvlilebebiT mniSvnelovnad

Seicvala erovnuli bankis saqmianobis, or-

ganizebis da mmarTvelobis maregulirebe-

li normebi. kerZod;

fulad_sakredito da savaluto politi-

kis ZiriTad mimarTulebad ganisazRvra sa-

momxmareblo fasebis saerTo donis saSualo

wliuri zrdis maCveneblis SenarCuneba saSu-

alovadian periodSi.

normatiul-samarTlebrivi bazis ganviTareba


ganisazRvra inflaciis miznobrivi maCve-

neblis cneba, dadginda erovnuli bankis

prezidentis pasuxismgebloba inflaciis ma-

Cvenebelze.

erovnuli bankis sabWos Semadgenloba

garda kanoniT daSvebuli SemTxvevebisa, ga-

nisazRvra 5 wevriT.

erovnul bankSi Seiqmna monetaruli poli-

tikis komiteti, romlis ZiriTadi funqciaa

fulad_sakredito da savaluto politikis

SemuSaveba.

axli redaqciiT Camoyalibda erovnuli

bankis saqmianobis maregulirebeli safinan-

so debulebebi _ wminda mogebis gamoangari-

Seba da wminda zaralis ganawileba.

safinanso seqtorze zedamxedvelobis mi-

zniT erovnul bankTan Seiqmna sajaro sa-

marTlis iuridiuli piri _ saqarTvelos sa-

finanso zedamxedvelobis saagento.

normatiul-samarTlebrivi bazis ganviTareba


10. statistikuri cxrilebi

statistikuri cxrilebi

1. ZiriTadi makroekonomikuri maCveneblebi ......................................................................... 50

2. samomxmareblo fasebis indeqsis dinamika ......................................................................... 51

3. wliuri inflacia ................................................................................................................. 51

4. sarezervo fulis masis moculobisa da struqturis dinamika ....................................... 52

5. fulis masis agregatebis dinamika ..................................................................................... 53

6. saqarTvelos erovnuli bankis momoxilva .......................................................................... 54

7. sxva depozituri korporaciebis mimoxilva ..................................................................... 55

8. saqarTvelos depozituri korporaciebis mimoxilva ....................................................... 56

9. monetaruli koeficientebis dinamika ................................................................................. 57

10. monetaruli politikis saprocento ganakveTi ................................................................ 58

11. komerciuli bankebis krebsiTi aqtivebisa da pasivebis dinamika ................................ 58

12. komerciuli bankebis sesxebisa da depozitebis moculoba da saSualo

wliuri Sewonili saprocento ganakveTebi ..................................................................... 59

13. komerciuli bankebis mier gacemuli sesxebiT davalianeba .......................................... 60

14. komerciuli bankebis vadagadacilebuli sesxebiT davalianeba ................................... 60

15. Tbilisis bankTaSoris savaluto birJaze aSS dolariT vaWrobis Sedegebi ................ 61

16. gacvliTi kursebi: lari/aSS dolari ................................................................................ 62

17. gacvliTi kursebi: lari/evro .......................................................................................... 63

18. saqarTvelos saxelmwifo sagareo vali ........................................................................... 64

19. saqarTvelos sagareo vaWroba ........................................................................................... 65

20. saqarTvelos umsxvilesi sagareo savaWro partniori qveynebi ..................................... 66

21. saqarTvelos umsxvilesi saeqsporto sasaqonlo jgufebi .......................................... 67

22. saqarTvelos umsxvilesi saimporto sasaqonlo jgufebi ............................................ 67

23. finansuri seqtoris institutebi...................................................................................... 68

24. saqarTveloSi moqmedi komerciuli bankebis sia 2009 wlis 1 ianvris mdgomareobiT ........... 69

25. komerciuli bankebis dajgufeba fuladi saxiT ganaRdebuli sawesdebo

kapitalis mixedviT 2009 wlis 1 ianvris mdgomareobiT ................................................. 70

26. saqarTveloSi moqmedi mikrosafinanso organizaciebis sia 2009 wlis

1 ianvris mdgomareobiT ...................................................................................................... 71


zomis

erTeuli2000 2005 2006 2007 2008

1. realuri seqtori

nominaluri mTliani Sida produqti mln.lari 6043.1 11620.9 13789.9 16993.8 19069.6

mSp erT sulze lari 1362.5 2689.1 3133.1 3866.9 4351.7

mrewvelobis produqciis gamoSveba mln.lari 1793.4 3242.9 3952.7 4521.0 4993.6

soflis meurneobis produqciis gamoSveba mln.lari 1857.2 2585.4 2341.7 2390.2 2623.2

realuri mTliani Sida produqtis zrdis tempi % 101.8 109.6 109.4 112.3 102.1

2. inflacia

samomxmareblo fasebis indeqsi % 104.6 106.2 108.8 111.0 105.5

sasursaTo saqoneli % 107.5 108.4 109.3 111.4 104.8

arasasursaTo saqoneli % 99.2 103.3 109.2 107.9 104.8

momsaxureba % 101.9 104.3 107.3 113.1 107.7

3. saxelmwifo biujeti *

Semosavali mln.lari 640.2 2607.5 3293.3 4293.6 5517.7

maT Soris gadasaxadebi % 68.4 70.4 64.7 70.1 82.3

xarji mln.lari 833.8 2618.6 2669.4 3890.0 5551.7

wminda saoperacio balansi mln.lari -193.6 -11.0 623.9 403.6 -34.0

%-ad mTlian Sida produqtTan % -3.2 -0.1 4.5 2.4 -0.2

4. dasaqmeba

dasaqmebuli mosaxleobis ricxovnoba aTasi kaci 1840.7 1744.6 1747.3 1704.3 …

umuSevrobis done % 10.3 13.8 13.6 13.3 …

5. socialuri indikatorebi

mosaxleobis Tviuri fuladi Semosavlebi mln.lari 149.4 272.6 305.5 351.6 454.4

mosaxleobis Tviuri fuladi xarjebi mln.lari 246.7 309.1 333.7 373.0 452.7

nominaluri saSualo xelfasi lari 72.3 204.2 277.9 368.1 539.6**

nominaluri xelfasis zrdis tempi % 107.1 130.2 136.1 132.5 …

realuri xelfasis zrdis tempi % 122.6 120.4 124.6 121.3 …

saarsebo minimumi (periodis bolosaTvis):

Sromisunariani mamakacisaTvis lari 114.5 98.3 120.3 115.9 130.7

saSualo momxmareblisaTvis lari 100.4 87.1 106.5 102.7 115.8

saSualo ojaxisaTvis lari 199.2 164.9 201.7 194.4 219.3

1. ZiriTadi makroekonomikuri maCveneblebi

wyaro: ekonomikuri ganviTarebis saministros statistikis departamenti; finansTa saministro

SeniSvnebi:

a) samomxmareblo fasebis indeqsis bazad aRebulia yoveli wina wlis dekemberi.

b) mosaxleobis fulad Semosavlebsa da xarjebs Soris gansxvaveba gamowveulia imiT, rom gamokiTxuli ojaxebi

xSirad srulad ar uCveneben fulad Semosavlebs.

*) 2000 _2005 weli _ Zveli klasifikaciiT

**) 9 Tve.



2. samomxmareblo fasebis indeqsis dinamika

3. wliuri inflacia

SeniSvna: samomxmareblo fasebis indeqsis bazad aRebulia wina wlis dekemberi.

wyaro: statistikis departamenti.


2005 2006 2007 2008

12 Tvis

cvlileba

12 Tvis

saSualo

12 Tvis

cvlileba

12 Tvis

saSualo

12 Tvis

cvlileba

12 Tvis

saSualo

12 Tvis

cvlileba

12 Tvis

saSualo

ianvari 9.3 6.1 5.2 7.9 10.4 9.6 10.7 9.3

Tebervali 9.2 6.3 5.1 7.5 11.0 10.1 10.9 9.3

marti 9.7 6.6 4.6 7.1 9.7 10.5 12.3 9.5

aprili 10.3 7.0 6.0 6.7 8.1 10.7 12.2 9.8

maisi 8.9 7.3 10.0 6.9 7.3 10.4 11.2 10.2

ivnisi 9.0 7.8 11.4 7.1 7.3 10.1 11.3 10.5

ivlisi 6.0 7.8 14.5 7.8 6.6 9.4 9.8 10.8

agvisto 7.2 8.0 13.4 8.3 7.7 9.0 12.8 11.2

seqtemberi 7.7 8.1 11.2 8.6 9.0 8.8 10.6 11.3

oqtomberi 7.8 7.9 10.2 8.8 11.2 8.9 7.0 10.9

noemberi 7.9 8.3 9.8 8.9 11.6 9.1 6.3 10.5

dekemberi 6.2 8.2 8.8 9.2 11.0 9.2 5.5 10.0

2005 2006 2007 2008

fasebis

indeqsi

procentuli

cvlileba

wina TvesTan

fasebis

indeqsi

procentuli

cvlileba

wina TvesTan

fasebis

indeqsi

procentuli

cvlileba

wina TvesTan

fasebis

indeqsi

procentuli

cvlileba

wina TvesTan

ianvari 102.1 2.1 101.2 1.2 102.7 2.7 102.5 2.5

Tebervali 102.4 0.3 101.4 0.2 103.5 0.7 103.4 0.9

marti 103.0 0.6 101.5 0.1 102.4 -1.1 103.5 0.1

aprili 103.5 0.4 103.3 1.8 102.7 0.3 103.8 0.3

maisi 102.1 -1.3 105.8 2.4 104.3 1.6 104.6 0.7

ivnisi 100.6 -1.4 105.6 -0.2 104.1 -0.2 104.5 -0.1

ivlisi 98.6 -1.9 106.4 0.8 104.3 0.1 103.2 -1.2

agvisto 99.2 0.6 106.0 -0.4 104.9 0.6 106.7 3.4

seqtemberi 101.1 1.9 106.0 0.0 106.2 1.2 105.8 -0.8

oqtomberi 102.9 1.7 106.8 0.8 109.2 2.8 105.3 -0.5

noemberi 104.3 1.4 107.9 1.0 110.7 1.4 106.0 0.7

dekemberi 106.2 1.8 108.8 0.9 111.0 0.3 105.5 -0.4



ian Teb mar apr mai ivn ivl agv seq oqt noe dek

sarezervo fulis masa

2005 802537 828791 822638 852874 845680 889438 907915 931555 939546 957768 969178 1007368

2006 989149 1009984 984685 1040715 1026383 1067290 1122798 1111354 1115394 1101880 1270883 1272099

2007 1236050 1239090 1157369 1282871 1407816 1409355 1468365 1561322 1579084 1595492 1615265 1781802

2008 1628390 1689865 1731215 1833538 1821662 1901146 1968946 1716703 1836932 1696369 1475989 1642081

naRdi fuli mimoqcevaSi

2005 634171 656852 662785 693144 683123 698215 730838 744967 750005 767996 753594 811400

2006 752834 759693 778939 795955 785653 807495 833762 841546 856959 839255 823901 929538

2007 838393 843298 861359 899127 927130 972672 1030849 1070629 1085260 1113966 1143785 1310488

2008 1191848 1228063 1296336 1404910 1354789 1416852 1476249 1449647 1407612 1355782 1253630 1290703

Tanxebi bankebis sakorespondento angariSebze

2005 57732 51950 58628 57843 50284 78568 64876 67520 67436 66100 85979 66135

2006 103132 112330 66412 101105 88771 86106 106278 71808 52954 54733 237092 118002

2007 178354 172144 64862 140216 174687 210549 191382 240580 236387 202729 208435 193061

2008 158104 173893 152157 145816 162319 188181 208115 116684 341116 237194 108216 230142

savaldebulo rezervebi

2005 90488 94344 97725 101887 108768 109141 110988 118348 122067 123171 129101 129833

2006 133183 137960 139334 143655 151959 158689 162958 177646 202331 206242 209890 224559

2007 219303 223649 231147 243528 305999 226134 246134 250113 257437 278798 263045 278253

2008 278254 287724 282537 282811 304555 296113 284582 150372 88204 103394 114144 121236

4. sarezervo fulis masis moculobisa da struqturis dinamika (periodis bolos; aTasi lari)



5. fulis masis agregatebis dinamika(periodis bolos; aTasi lari)

ian Teb mar apr mai ivn ivl agv seq oqt noe dek

farTo fuli (M3)

2005 1443563 1484314 1512412 1601587 1599309 1643988 1697075 1781527 1824447 1883967 1921281 1924919

2006 1956061 1986757 2023117 2187069 2185567 2307293 2346359 2397622 2448024 2468322 2524549 2689887

2007 2613987 2753554 2705882 2895427 2999459 3281910 3442747 3650827 3748029 3836584 3931101 4027469

2008 4056922 3993356 4075932 4333892 4206603 4234084 4373549 3941205 4017809 3936563 3966082 4305126

farTo fuli, ucxouri valutiT depozitebis gareSe (M2)

2005 787580 809440 818036 861120 847809 894495 921353 972659 987143 1018412 1043039 1071039

2006 1055535 1057217 1092520 1147523 1158490 1258674 1255728 1260433 1279668 1247729 1242778 1392849

2007 1304141 1316010 1372487 1464488 1544770 1655771 1791198 1874078 1937606 2003664 2089028 2149311

2008 2047754 2081520 2276128 2380826 2333668 2432518 2529779 2294428 2280434 2190228 1926785 1862498

bankebs gareT arsebuli naRdi fuli

2005 577768 601686 613121 644084 628246 640135 668163 686582 689614 702863 688231 736284

2006 685795 692108 712598 717900 715217 733341 749754 756053 776625 758866 743278 827357

2007 743861 755503 765376 786906 823848 856423 913705 949535 956649 993026 1012029 1152070

2008 1045934 1075495 1132136 1232825 1192990 1239022 1299023 1256293 1204893 1159088 1064777 1082554

depozitebi erovnuli valutiT

2005 208766 206969 204225 216340 219076 253766 252823 285774 297004 315086 354117 334552

2006 369333 364778 379698 429180 442825 525086 505497 503938 502672 488260 498978 565143

2007 560281 560506 607111 677582 720923 799348 877494 924543 980956 1010638 1076998 997241

2008 1001820 1006026 1143992 1148001 1140678 1193496 1230757 1038134 1075541 1031140 862008 779944

depozitebi ucxouri valutiT

2005 655302 674198 693708 739839 750959 749010 775241 808402 836850 865102 877892 853530

2006 900172 929184 930241 1039192 1026704 1048275 1087385 1133981 1165163 1217394 1278590 1293932

2007 1309845 1437544 1333396 1430939 1454688 1626139 1651548 1776749 1810423 1832919 1842074 1878158

2008 2009168 1911836 1799804 1953066 1872935 1801566 1843770 1646777 1737375 1746335 2039297 2442628



01.01.08 01.04.08 01.07.08 01.10.08 01.01.09

wminda ucxouri aqtivebi 1743371 1806776 1889735 1416965 1735735

ucxouri aqtivebi 2248289 2175124 2234411 2074651 2508306

oqro 0 0 0 0 0

nasesxobis specialuri uflebebi (nsu) 23533 3040 466 4945 20515

ucxouri valuta 2142832 2095690 2163569 1924562 2446882

sxva ucxouri aqtivebi 81924 76395 70375 145144 40909

ucxouri valdebulebebi -504918 -368349 -344676 -657686 -772570

ssf-s resursebis gamoyeneba -398876 -362514 -342335 -655645 -769409

sxva ucxouri valdebulebebi -106042 -5835 -2341 -2041 -3161

wminda saSinao aqtivebi 50769 -74872 12601 421806 -92270

mTavrobis wminda davalianeba 412084 398754 224874 346083 -99246

centraluri mTavrobis davalianeba 412084 398754 224874 346083 -99246

saxazino valdebulebebi 778467 778585 778585 779853 779664

sesxebi centralur mTavrobas 3 3 3 3 3

centraluri mTavrobis depozitebi -366387 -379834 -553714 -433773 -878913

sesxebi centraluri mTavrobidan 0 0 0 0 0

adgilobriv mTavrobis wminda davalianeba 0 0 0 0 0

sesxebi adgilobriv mTavrobas 0 0 0 0 0

adgilobrivi mTavrobis depozitebi 0 0 0 0 0

saxelmwifo arasafinanso korporaciebis davalianeba 98942 0 0 0 0

maT Soris sesxebi ucxour valutaSi 98942 0 0 0 0

sxva arasafinanso korporaciebis davalianeba 0 0 0 0 0


fizikuri pirebis davalianeba 3575 3290 3310 3340 3951


bankebis wminda davalianeba -303369 -392141 -180060 -17524 132100

bankebis davalianeba 73172 75040 40 125495 209452

valdebulebebi bankebis winaSe -376541 -467181 -180100 -143019 -77352

valdebulebebi rezidenti finansuri institutebis winaSe 0 0 0 0 0

sxva wminda aqtivebi -160463 -84775 -35523 89908 -129074

sarezervo fuli 1781802 1731215 1901146 1836932 1642081

erovnuli valuta mimoqcevaSi 1310488 1296336 1416852 1407612 1290703

bankebis depozitebi 471314 434879 484294 429319 351378

savaldebulo rezervebi 278253 282537 296113 88204 121236

maT Soris: ucxour valutaSi 277083 282479 296113 88204 121236

naSTebis sakorespondento angariSebze 193061 152157 188181 341116 230142

maT Soris: ucxour valutaSi 6118 25798 1179 5874 88952

sxva depozitebi 0 184 0 0 0

sadepozito valdebulebebi 12338 689 1189 1840 1385

erovnul valutaSi 12338 688 1189 1837 1384

ucxour valutaSi 0 1 1 2 1

6. saqarTvelos erovnuli bankis mimoxilva (aTasi lari)



7. sxva depozituri korporaciebis mimoxilva (aTasi lari)

01.01.08 01.04.08 01.07.08 01.10.08 01.01.09

wminda ucxouri aqtivebi -1276116 -1394522 -1742414 -1775897 -1738029

ucxouri valutis rezervebi 604593 529232 580400 616067 1138783

ucxouri fasiani qaRaldebi 8263 7616 0 0 465

investiciebi sazRvargareT 3772 1367 1111 441 236

sesxebi ararezidentebze 8754 8118 3545 3513 4168

ucxouri valdebulebebi -1856939 -1905113 -2305291 -2374296 -2875365

sxva wminda ucxouri aqtivebi -44559 -35743 -22178 -21622 -6316

wminda saSinao aqtivebi 4139176 4337630 4736287 4586973 4959216

mTavrobis wminda davalianeba -59354 -77389 -108688 -82838 -71951

centraluri mTavrobis wminda davalianeba 30466 8083 1503 8259 -1081

saxazino valdebulebebi 38185 28127 18063 18065 8019

sesxebi centralur mTavrobas 17135 14121 19876 26572 28014

centraluri mTavrobis depozitebi -15938 -23481 -21605 -21045 -18397

finansTa saministros sesxebi kerZo biznesis

ganviTarebisTvis-8916 -10684 -14830 -15333 -18718

adgilobrivi mTavrobis wminda davalianeba -49205 -44077 -46661 -44368 -23846

sesxebi adgilobriv mTavrobas 0 0 0 0 0

adgilobrivi mTavrobis depozitebi -49205 -44077 -46661 -44368 -23846

misaRebi procentebi -40615 -41395 -63531 -46728 -47025







kerZo seqtoris sxva davalianeba 224847 299895 252016 309939 348350

bankebis rezervebi 627616 596389 660192 630377 558087

lari salaroSi 158417 164200 177830 202719 208150


naSTebi sakorespondento angariSebze 190946 149651 186249 339454 228702

bankebis wminda davalianeba 25360 27555 -241811 -342622 -477382

sxva sadepozito korporaciebis davalianeba 120534 384202 413736 322479 170915

valdebulebebi sxva depozituri korporaciebis mimarT -418624 -748662 -835569 -682630 -516178

seb-is davalianeba 376450 467016 180022 142979 77281

valdebulebebi seb-is winaSe -53000 -75000 0 -125450 -209400

sxva muxlebi, wminda -1314154 -1577516 -1421733 -1433362 -1462022

sxva aqtivebi 788589 959047 1211868 1185067 1153771

sxva valdebulebebi -2102743 -2536563 -2633601 -2618430 -2615793

sesxebi sxva rezidenti arasafinanso korporaciebidan -220757 -196465 -195685 -195291 -231448

fuladi bazris instrumentebi 0 -7828 0 0 0

sxva valdebulebebi -1881987 -2332270 -2437916 -2423138 -2384345

sadepozito valdebulebebi 2863060 2943108 2993873 2811077 3221187

erovnul valutaSi 984903 1143304 1192307 1073703 778560

ucxour valutaSi 1878157 1799803 1801565 1737373 2442627



01.01.08 01.04.08 01.07.08 01.10.08 01.01.09

wminda ucxouri aqtivebi 467255 412254 147321 -358933 -2294

wminda ucxouri aqtivebi (seb) 1743371 1806776 1889735 1416964 1735735

wminda ucxouri aqtivebi (sdk) -1276116 -1394522 -1742414 -1775897 -1738029

wminda saSinao aqtivebi 3560214 3663679 4086764 4376741 4307420

saSinao sesxebi 5314955 5693246 5967823 6082003 6245238

mTavrobis wminda davalianeba 352729 321366 116186 263245 -171198

centraluri mTavrobis wminda davalianeba (seb) 412084 398754 224874 346083 -99246

centraluri mTavrobis wminda davalianeba (sdk) 30466 8083 1503 8259 -1081

adgilobrivi mTavrobis wminda davalianeba (seb) 0 0 0 0 0

adgilobrivi mTavrobis wminda davalianeba (sdk) -49205 -44077 -46661 -44368 -23846

misaRebi procentebi (seb) 0 0 0 0 0

misaRebi procentebi (sdk) -40615 -41395 -63531 -46728 -47025


saxelmwifo arasafinanso korporaciebis davalianeba (seb) 98942 0 0 0 0

saxelmwifo arasafinanso korporaciebis davalianeba (sdk) 47973 83069 77723 53278 74860


sxva arasafinanso korporaciebis davalianeba (seb) 0 0 0 0 0

sxva arasafinanso korporaciebis davalianeba (sdk) 3080225 3260257 3449776 3317819 3697428


fizikuri pirebis davalianeba (seb) 3575 3290 3310 3340 3951

fizikuri pirebis davalianeba (sdk) 1506663 1725369 2068813 2134382 2291847

kerZo seqtoris sxva davalianeba 224847 299895 252016 309939 348350

kerZo seqtoris sxva davalianeba (seb) 224847 299895 252016 309939 348350


sxva muxlebi, wminda (seb) -935146 -911795 -699877 -356935 -348352

bankebis wminda davalianeba -303369 -392141 -180060 -17554 132100

valdebulebebi rezidenti finansuri institutebis winaSe 0 0 0 0 0

valdebulebebi sxva depozituri korporaciebis mimarT -471314 -434879 -484294 -429319 -351378

sxva wminda aqtivebi -160463 -84775 -35523 89908 -129074

sxva muxlebi, wminda (sdk) -819595 -1117772 -1181182 -1348327 -1589466


naSTebi sakorespondento angariSebze 190946 149651 186249 339454 228702

bankebis wminda davalianeba 25360 27555 -241811 -342622 -477382


monetaruli agregati (M3) 4027469 4075932 4234084 4017809 4305126

monetaruli agregati (M2) 2149311 2276128 2432518 2280434 1862498

bankebs gareT arsebuli naRdi fuli 1152070 1132136 1239022 1204893 1082554

depozitebi erovnul valutaSi 997241 1143992 1193496 1075541 779944

depozitebi ucxour valutaSi 1878158 1799804 1801566 1737375 2442628

8. saqarTvelos depozituri korporaciebis mimoxilva (aTasi lari)



9. monetaruli koeficientis dinamika

saval-

debulo

rezervebi

k/b-is sa-

korespon-

dento

angariSe-

bi seb-Si

naRdi

fuli

k/b-Si

k/b-is

rezerveb-

is saerTo

Tanxa

dolari-

zaciis

koefici-

enti

fulis

multi-

plika-

tori

(M2)

fulis

multi-

plika-

tori

(M3)

fulis mi-

moqcevis

siCqare

(M2)

fulis mi-

moqcevis

siCqare

(M3)procentulad komerciuli bankebis

sadepozito valdebulebebTan

2007

ianvari 11.75 9.56 5.06 26.37 70.04 1.06 2.11

Tebervali 11.28 8.68 4.43 24.39 71.95 1.06 2.22

marti 11.91 3.34 4.95 20.20 68.71 1.19 2.34 12.38 6.28

aprili 11.55 6.65 5.32 23.52 67.86 1.14 2.26

maisi 14.06 8.03 4.75 26.84 66.86 1.10 2.13

ivnisi 9.32 8.60 4.79 22.72 67.04 1.17 2.33 10.26 5.18

ivlisi 9.73 7.57 4.63 21.93 65.30 1.22 2.34

agvisto 9.26 8.91 4.48 22.65 65.77 1.20 2.34

seqtemberi 9.22 8.47 4.61 22.30 64.86 1.23 2.37 8.77 4.53

oqtomberi 9.80 7.13 4.25 21.19 64.46 1.26 2.40

noemberi 9.01 7.14 4.51 20.67 63.10 1.29 2.43

dekemberi 9.68 6.71 5.51 21.90 65.32 1.21 2.26 7.91 4.22

2008

ianvari 9.24 5.25 4.85 19.34 66.73 1.26 2.49

Tebervali 9.86 5.96 5.23 21.05 65.52 1.23 2.36

marti 9.60 5.17 5.58 20.34 61.14 1.31 2.35 8.38 4.68

aprili 9.12 4.70 5.55 19.37 62.98 1.30 2.36

maisi 10.11 5.39 5.37 20.86 62.15 1.28 2.31

ivnisi 9.89 6.28 5.94 22.11 60.15 1.28 2.23 7.84 4.50

ivlisi 9.26 6.77 5.76 21.79 59.97 1.28 2.22

agvisto 5.60 4.35 7.20 17.15 61.33 1.34 2.30

seqtemberi 3.14 12.13 7.21 22.47 61.76 1.24 2.19 8.36 4.75

oqtomberi 3.72 8.54 7.08 19.34 62.87 1.29 2.32

noemberi 3.93 3.73 6.51 14.17 70.29 1.31 2.69

dekemberi 3.76 7.14 6.46 17.36 75.80 1.13 2.62 10.24 4.43



TariRi saprocento ganakveTi,%

23/1/08 10

20/2/08 11

19/3/08 11

16/4/08 12

14/5/08 12

25/6/08 12

23/7/08 12

20/8/08 11

10/9/08 10

17/9/08 10

15/10/08 10

26/11/08 9

24/12/08 8

10. monetaruli politikis saprocento ganakveTi

11. komerciuli bankebis krebsiTi aqtivebisa da pasivebis dinamika (aTasi lari)

SeniSvna: 2008 wlis 20 agvistos CaTvliT monetaruli politikis saprocento ganakveTis dasadgenad gamoi-

yeneboda iseTi instrumenti, rogoricaa 7-dRiani sadepozito sertifikati, xolo aRniSnuli TariRis Semdeg

gamoiyeneba 7-dRiani refinansirebis ganakveTi.

1.01.08 1.04.08 1.07.08 1.10.08 1.01.09

naRdi fuladi saxsrebi 302607 346879 377025 403430 421319

fuladi saxsrebi sabanko angariSebze 1050605 1164671 1275520 1158611 1439111

fasiani qaRaldebi dilinguri operaciebisaTvis 3769 1131 884 238 719

sainvesticio fasiani qaRaldebi 422420 502396 198160 161105 85403

wminda sesxebi 4424689 4818142 5301132 5030920 5454833

sesxebi saxelmwifo seqtors 0 0 0 0 3

sesxebi kerZo seqtors (bankTaSorisi sesxebis garda) 4580528 5003520 5527343 5428985 5982147

bankTaSorisi sesxebi 8811 8118 3545 9930 10730

sesxebis SesaZlo danakargebis rezervebi (-) 164651 193496 229756 407995 538047

daricxuli misaRebi procentebi da dividendebi 63110 71611 74464 82319 98025

investiciebi sawesdebo kapitalSi 215388 290672 244303 302198 340387

ZiriTadi saSualebebi da aramaterialuri aqtivebi 572546 616150 719957 789540 832553

sxva wminda aqtivebi 153023 273446 414290 306593 193277

mTliani aqtivebi 7208158 8085099 8605735 8234954 8865627

valdebulebebi 5737111 6332295 6813797 6509643 7348376

bankebis depozitebi 296178 569676 628860 512824 277093

arasabanko depozitebi 3215038 3303422 3445744 3186058 3567816

arasabanko depozitebi moTxovnamde 1592755 1601033 1616712 1544098 1697034

iuridiuli pirebis vadiani depozitebi 487703 471485 500574 462246 547430

fizikuri pirebis vadiani depozitebi 1069807 1163682 1260851 1115496 1281562

samTavrobo seqtoris depozitebi 64773 67221 67607 64218 41790

daricxuli gadasaxdeli procentebi da dividendebi 85803 72201 85109 87261 106179

nasesxebi saxsrebi 1942394 2041836 2278319 2511567 3174137

sxva valdebulebebi 197698 345161 375765 211933 223151

sul saaqcio kapitali 1471046 1752804 1791939 1725311 1517250

ganaRdebuli sawesdebo kapitali 453991 547353 557546 591161 574293

kapitalis rezervebi 669201 816461 833302 852776 849682

gaunawilebeli mogeba 347855 388989 401091 281373 93276

mTliani pasivebi 7208158 8085099 8605735 8234954 8865627



12. komerciuli bankebis sesxebisa da depozitebis moculoba da

saSualo wliuri Sewonili saprocento ganakveTebi

1.01.08 1.04.08 1.07.08 1.10.08 1.01.09

aTasi lari

sesxebi erovnul valutaSi iuridiul da

fizikur pirebze

sul 1408408 1662785 1903468 1674546 1544401

moklevadiani 754340 868880 860052 645301 580656

grZelvadiani 654068 793904 1043416 1029244 963745

sesxebi ucxour valutaSi iuridiul da

fizikur pirebze

sul 3096524 3239748 3534185 3597108 4278504

moklevadiani 579820 663087 780715 744276 896941

grZelvadiani 2516704 2576660 2753470 2852832 3381563

vadiani depozitebi erovnul valutaSi

sul 297732 395232 485066 372345 230270

moklevadiani 246598 314453 418233 305150 186925

grZelvadiani 51134 80779 66833 67195 43345

vadiani depozitebi ucxour valutaSi

sul 1259778 1239936 1276359 1205397 1598722

moklevadiani 830843 807803 932422 891810 1269177

grZelvadiani 428935 432133 343937 313586 329546

saprocento ganakveTebi,%

sesxebi erovnul valutaSi iuridiul da

fizikur pirebze

sul 20.7 20.8 21.8 22.4 22.9

moklevadiani 21.2 21.1 22.2 23.5 24.0

grZelvadiani 20.2 20.4 21.4 21.7 22.2

sesxebi ucxour valutaSi iuridiul da

fizikur pirebze

sul 16.7 16.6 16.8 17.2 17.7

moklevadiani 19.3 19.2 19.6 20.5 21.6

grZelvadiani 16.1 15.9 16.0 16.3 16.7

depozitebi erovnul valutaSi

sul 9.4 8.6 9.6 9.9 10.0

moklevadiani 8.6 7.3 9.0 9.0 9.2

grZelvadiani 13.1 13.6 13.5 13.9 13.9

depozitebi ucxour valutaSi

sul 8.8 8.9 9.1 9.5 10.0

moklevadiani 7.6 7.7 8.3 8.8 9.6

grZelvadiani 11.1 11.2 11.1 11.4 11.7



13. komerciuli bankebis mier gacemuli sesxebiT davalianeba (aTasi lari)

14. komerciuli bankebis vadagadacilebuli sesxebiT davalianeba (aTasi lari)

sesxebiT

davalianeba, sul

maT Soris:

erovnul valutaSi ucxour valutaSi

01.01.08 4504932 1408408 3096524

01.02.08 4571093 1460056 3111037

01.03.08 4713823 1546657 3167166

01.04.08 4902532 1662785 3239748

01.05.08 5125342 1741706 3383637

01.06.08 5280359 1827351 3453008

01.07.08 5437653 1903468 3534185

01.08.08 5570972 1910375 3660597

01.09.08 5369710 1791736 3577975

01.10.08 5271653 1674546 3597108

01.11.08 5236657 1622142 3614515

01.12.08 5774682 1560744 4213939

01.01.09 5822905 1544401 4278504

vadagadacilebuli

davalianeba, sul

maT Soris:

erovnul valutaSi ucxour valutaSi

01.01.08 75597 31596 44000

01.02.08 99085 53154 45931

01.03.08 109360 43468 65892

01.04.08 100988 45599 55389

01.05.08 116605 50442 66164

01.06.08 105274 53837 51437

01.07.08 89690 39290 50401

01.08.08 99042 41987 57055

01.09.08 112406 54138 58268

01.10.08 157332 90624 66708

01.11.08 177404 98652 78751

01.12.08 208627 110074 98553

01.01.09 159245 83213 76032



15. Tbilisis bankTaSoris savaluto birJaze aSS dolariT

vaWrobis Sedegebi

(aTasi aSS dolari)

garigebis

moculoba

gayiduli aSS dolari nayidi aSS dolariseb-is wminda

intervenciebi kom/bankebis

mier seb-is mier

kom/bankebis

mier seb-is mier

2007 1346600 1089175 257425 428424 918176 -660751

ianvari 54945 40170 14775 41795 13150 1625

Tebervali 74978 72458 2520 20394 54584 -52064

marti 100625 100625 0 7405 93220 -93220

aprili 93115 90035 3080 14185 78930 -75850

maisi 98965 94485 4480 8765 90200 -85720

ivnisi 101775 98835 2940 14535 87240 -84300

ivlisi 141281 114586 26695 43320 97961 -71266

agvisto 124111 115976 8135 19350 104761 -96626

seqtemberi 115810 106960 8850 15550 100260 -91410

oqtomberi 121045 121045 0 14475 106570 -106570

noemberi 128850 19100 109750 118400 10450 99300

dekemberi 191100 114900 76200 110250 80850 -4650

2008 2246173 1034937 1211236 1424426 821748 389489

ianvari 139111 31091 108020 115294 23817 84203

Tebervali 225360 191647 33713 44290 181070 -147357

marti 262225 227375 34850 51496.5 210729 -175879

aprili 178535 64505 114030 134400 44135 69895

maisi 240450 165370 75080 111000 129450 -54370

ivnisi 145180 133430 11750 49280 95900 -84150

ivlisi 113630 89560 24070 42290 71340 -47270

agvisto 218750 29862 188888 217150 1600 187288

seqtemberi 106467 59917 46550 59960 46507 43

oqtomberi 231820 15300 216520 224370 7450 209070

noemberi 206815 19660 187155 197565 9250 177905

dekemberi 177830 7220 170610 177330 500 170110



Tvis bolos saSualod Tvis ganmavlobaSi

2007

ianvari 1.7199 1.7145

Tebervali 1.7130 1.7142

marti 1.7000 1.7059

aprili 1.6900 1.6948

maisi 1.6780 1.6841

ivnisi 1.6695 1.6748

ivlisi 1.6680 1.6674

agvisto 1.6625 1.6646

seqtemberi 1.6580 1.6607

oqtomberi 1.6225 1.6420

noemberi 1.6210 1.6223

dekemberi 1.5916 1.6013

2008

ianvari 1.5870 1.5921

Tebervali 1.5540 1.5664

marti 1.4760 1.5098

aprili 1.4620 1.4549

maisi 1.4440 1.4549

ivnisi 1.4180 1.4281

ivlisi 1.4080 1.4096

agvisto 1.4100 1.4123


oqtomberi 1.4210 1.4127

noemberi 1.6500 1.5827

dekemberi 1.6670 1.6554

16. gacvliTi kursebi: lari / aSS dolari



17. gacvliTi kursebi: lari / evro

Tvis bolos saSualod Tvis ganmavlobaSi

2007

ianvari 2.2283 2.2287

Tebervali 2.2660 2.2392

marti 2.2642 2.2582

aprili 2.3006 2.2867

maisi 2.2542 2.2763

ivnisi 2.2455 2.2448

ivlisi 2.2788 2.2840

agvisto 2.2668 2.2658


oqtomberi 2.3377 2.3347

noemberi 2.3913 2.3775

dekemberi 2.3315 2.3322

2008

ianvari 2.3438 2.3413

Tebervali 2.3459 2.3058

marti 2.3271 2.3375

aprili 2.2755 2.2979

maisi 2.2339 2.2602

ivnisi 2.2325 2.2202

ivlisi 2.1970 2.2233

agvisto 2.0803 2.1209


oqtomberi 1.8712 1.8918

noemberi 2.1346 2.0132

dekemberi 2.3648 2.2333



18. saqarTvelos saxelmwifo sagareo vali (saxelmwifos mier garantirebuli kreditebis gareSe)

2000 2005 2006 2007 2008

milioni aSS dolari

mTliani sagareo vali, periodis bolosaTvis 1556.2 1650.6 1604.5 1776.0 2681.4

maT Soris:

moklevadiani kreditebi - - - -

grZelvadiani kreditebi 1556.2 1650.6 1604.5 1776.0 2681.4

sagareo valis momsaxurebasTan dakavSirebuli gadasaxdelebi 64.4 109.2 151.3 102.5 79.5

maT Soris:

ZiriTadi valis gadaxdasTan dakavSirebuli 24.8 88.6 130.9 79.2 35.6

procentebis gadaxdasTan dakavSirebuli 39.6 20.7 20.4 23.3 43.9

saqonlisa da momsaxurebis eqsporti 705.4 2187.5 2551.6 3182.4 3691.1

SefardebiTi parametrebi,%

mTliani sagareo vali procentulad mTlian Sida produqtTan 50.9 25.7 20.7 17.5 21.0

mTliani sagareo vali procentulad eqsportTan 220.6 75.5 62.9 55.8 72.6

sagareo valis momsaxurebis koeficientebi:

sagareo valis momsaxurebasTan dakavSirebuli gadasaxdele-

bi procentulad eqsportTan9.1 5.0 5.9 3.2 2.2

procentebTan dakavSirebuli gadasaxdelebi procentulad

eqsportTan5.6 0.9 0.8 0.7 1.2

wyaro: saqarTvelos finansTa saministro; statistikis departamenti.



19. saqarTvelos sagareo vaWroba (araregistrirebuli vaWrobis gareSe; aTasi aSS dolari)

sul ian Teb mar apr mai ivn ivl agv seq oqt noe dek

eqsporti (FOB)

2000 322821 16078 22050.28313 26265.65329 26541 27980 29217 29006 31037 35442 23926 28587 26691

2006 936172 67665 60570 86058 87853 74352 67723 75033 76938 80894 67519 88447 103119

2007 1232371 69474 67522 86666 99579 112612 107918 114498 111157 97184 130414 110998 124349

2008 1497664 96789 101214 131397 135571 144223 187019 160814 112788 170659 110505 71258 75427

importi (CIF)

2000 709402 49869 51953.70926 56442.62089 51431 45186 64116 55429 76024 53049 73613 64040 68249

2006 3677745 191138 223957 267452 285379 294497 307232 309257 363567 350310 341731 333550 409676

2007 5214883 328475 334759 381864 364694 438540 376066 430090 463612 424220 522441 445563 704558

2008 6058103 402968 474143 527992 579558 611148 572569 586051 404536 507171 511768 415738 464460

sagareo savaWro brunva

2000 1032223 65947 74004 82708 77972 73165 93333 84436 107061 88491 97539 92627 94940

2006 4613917 258803 284527 353510 373232 368849 374954 384290 440505 431204 409250 421998 512795

2007 6447254 397949 402281 468530 464273 551152 483984 544589 574769 521404 652854 556561 828907

2008 7555767 499757 575357 659390 715130 755372 759589 746865 517324 677830 622272 486996 539887

sagareo savaWro balansi

2000 -386581 -33791 -29903 -30177 -24891 -17206 -34899 -26423 -44987 -17607 -49687 -35452 -41558

2006 -2741573 -123473 -163387 -181394 -197525 -220145 -239509 -234224 -286629 -269415 -274212 -245103 -306557

2007 -3982512 -259001 -267238 -295198 -265115 -325927 -268147 -315592 -352455 -327036 -392027 -334566 -580209

2008 -4560439 -306179 -372928 -396595 -443987 -466925 -385550 -425237 -291748 -336513 -401263 -344480 -389034




eqsporti

(FOB)

importi

(CIF)balansi

sagareo savaWro

brunva

Tanxa %

2007

TurqeTi 171763.9 727906.0 -556142.1 899669.9 14.0

ukraina 94169.3 574906.0 -480736.7 669075.3 10.4

ruseTi 45599.0 576604.4 -531005.4 622203.4 9.7

azerbaijani 137455.0 382367.2 -244912.2 519822.2 8.1

germania 56155.9 387326.6 -331170.7 443482.5 6.9

aSS 149036.0 203891.4 -54855.4 352927.4 5.5

bulgareTi 59357.3 184049.7 -124692.4 243407.0 3.8

arabTa gaerTianebuli emiratebi 18638.3 214721.3 -196083.0 233359.6 3.6

TurqmeneTi 26338.5 149901.8 -123563.3 176240.3 2.7

somxeTi 110844.2 59557.5 51286.7 170401.7 2.6

umsxvilesi savaWro partniorebis mixedviT 869357.4 3461231.9 -2591874.5 4330589.3 x

sul 1232371.0 5214883.4 -3982512.4 6447254.4 100.0

umsxvilesi savaWro partniorebis wili,% 70.5 66.4 65.1 67.2 x

2008

TurqeTi 262912.5 939875.3 -676962.8 1202787.8 15.9

azerbaijani 205408.0 607778.1 -402370.1 813186.1 10.8

ukraina 134173.8 657617.8 -523444.0 791791.6 10.5

germania 33100.6 434328.1 -401227.5 467428.7 6.2

ruseTi 28471.0 426023.4 -397552.4 454494.4 6.0

aSS 102197.6 241390.2 -139192.6 343587.8 4.5

CineTi 8992.7 298149.2 -289156.5 307141.9 4.1

arabTa gaerTianebuli emiratebi 11228.6 272665.9 -261437.3 283894.5 3.8

bulgareTi 108216.7 122928.2 -14711.5 231144.9 3.1

italia 17144.9 181604.4 -164459.5 198749.3 2.6

umsxvilesi savaWro partniorebis mixedviT 911846.4 4182360.6 -3270514.2 5094207.0 x

sul 1497663.6 6058103.5 -5864065.6 7555767.1 100.0

umsxvilesi savaWro partniorebis wili,% 60.9 69.0 55.8 67.4 x

20. saqarTvelos umsxvilesi sagareo savaWro partniori qveynebi (aTasi aSS dolari)




21. saqarTvelos umsxvilesi saeqsporto sasaqonlo jgufebi

22. saqarTvelos umsxvilesi saimporto sasaqonlo jgufebi

2007 2008

aTasi aSS

dolari

%-ulad

jamTan

aTasi aSS

dolari

%-ulad

jamTan

eqsporti, sul 1232371.0 100.0 1497663.6 100.0

maT Soris:

feroSenadnobebi 159630.3 13.0 267241.6 17.8

Savi liTonebis jarTi 96871.8 7.9 128532.3 8.6

spilenZis madnebi da koncentratebi 79212.5 6.4 118265.4 7.9

msubuqi avtomobilebi 70176.0 5.7 113333.4 7.6

azotovani sasuqebi 57022.2 4.6 105519.4 7.0

oqro daumuSavebeli an naxevraddamuSavebuli 69391.7 5.6 100111.7 6.7

cementi 64002.3 5.2 80075.3 5.3

spirti eTilis aradenaturirebuli da spirtiani sasmelebi 57423.7 4.7 58993.1 3.9

yurZnis naturaluri Rvinoebi 29197.4 2.4 36862.8 2.5

Txili da sxva kakali 65122.0 5.3 31731.5 2.1

danarCeni produqcia 484321.1 39.3 456997.1 30.5

2007 2008

aTasi aSS

dolari

%-ulad

jamTan

aTasi aSS

dolari

%-ulad

jamTan

importi, sul 5214883.4 100.0 6058103.5 100.0

maT Soris:

navTobi da navTobproduqtebi 556343.6 10.7 762499.2 12.6

msubuqi avtomobilebi 369720.8 7.1 463290.0 7.6

navTobis airebi da airisebri naxSirwyalbadebi 293867.6 5.6 204660.0 3.4

samkurnalo saSualebebi 143995.9 2.8 189864.9 3.1

aparatura gadamcemi radiosatelefono, ra-

diosatelegrafo kavSiris, radiomauwyeblobisa da tele-

viziisaTvis

105178.2 2.0 148186.9 2.4

wnelebi naxSirbadiani foladisagan Semdgomi damuSavebis

gareSe 71868.3 1.4 111133.0 1.8

xorbali 139188.9 2.7 108851.7 1.8

gamomTvleli manqanebi da maTi blokebi 77988.9 1.5 92785.4 1.5

fqvili 45896.7 0.9 74490.4 1.2

magniumis madnebi da koncentratebi 19191.1 0.4 70050.5 1.2

danarCeni produqcia 3391643.4 65.0 3832291.5 63.3




23. finansuri seqtoris institutebi (periodis bolos)

2005 2006 2007 2008

komerciuli bankebi, sul 19 17 19 20

maT Soris:

ucxouri kapitalis monawileobiT 12* 12* 14* 17*

yovel 100000 kacze 0.43 0.39 0.43 0.46

filialebi 159 122 124 124

serviscentrebi x 298 416 559

komerciuli bankebis:

gancxadebuli sawesdebo fondi, aTasi lari 296443 344844 524576 625616

saaqcio kapitali, aTasi lari 479488 898373 1471046 1517250

valutis gadamcvleli punqtebi (licenzirebuli) 556 655 806 1030

yovel 100000 kacze 12.63 14.90 18.34 23.50

arasabanko sadepozito dawesebulebebi, erTeuli 40 38 24 18

mikrosafinanso organizaciebi (licenzirebuli) x 3 15 27

safondo birJebi, erTeuli 1 1 1 1

sadazRvevo kompaniebi (moqmedi), erTeuli 16 14 15 13

sapensio sqemebi, erTeuli 3 3 4 7

* maT Soris 2 ucxouri bankis filiali.



24. saqarTveloSi moqmedi komerciuli bankebis sia 2009 wlis

1 ianvris mdgomareobiT

N bankebis dasaxelebalicenziis ga-

cemis TariRi

licenziis

nomeri

moqmedi

filialebis

raodenoba

moqmedi

servis-centre-

bis raodenoba

1 ss banki "respublika" 04.02.1992 5 8 35

2 ss "taoprivatbanki" 25.02.1992 10 - 72

3 ss "pirveli britanuli banki " 12.01.1993 76 - -

4 ss "Tibisi banki" 20.01.1993 85 13 42

5 ss "saqarTvelos banki" 15.12.1994 86 1 159

6 ss "saqarTvelos saxalxo banki" 10.02.1993 96 75 111

7 ss kb "bazisbanki" 04.11.1993 173 - 19

8 ss "viTibi banki jorjia" 07.05.1995 226-a 14 12

9 ss "banki qarTu" 09.01.1997 229 3 4

10 ss "prokredit banki" 13.05.1999 233 7 50

11 ss "kor standart banki" 25.01.2008 0110245 - 26

12 ss kb "biTiei banki" 13.03.2001 238 1 5

13 ss "investbanki" 29.09.2003 241 1 2

14 T.r. ss "ziraaT bankis" Tbilisis filiali 31.03.1998 231-1 - -

15Rss "kavkasiis ganviTarebis bankis" Tbili-

sis filiali02.12.1999 234-1 - -

16ss "azerbaijanis saerTaSoriso banki -

saqarTvelo"07.02.2007 0110242 - -

17 ss "eiC es bi si banki saqarTvelo" 30.07.2007 0110243 - -

18 ss " progres banki" 31.12.2007 0110244 - 1

19 ss "xalik banki saqarTvelo" 29.01.2008 0110246 1 -

20 ss "banki konstanta" 03.07.2008 130 - 21



5-dan 10 mln laramde 10 mln lari da meti

ss "pirveli britanuli banki " ss "banki qarTu"

ss kb "bazisbanki" ss "prokredit banki"

T. r. ss "ziraaT bankis" Tbilisis filiali ss "viTibi banki jorjia"

Rss "kavkasiis ganviTarebis bankis" Tbilisis filiali ss "saqarTvelos banki"

ss banki "respublika"

ss kb "kor standart banki"

ss "investbanki"

ss "biTiei banki"

ss "saqarTvelos saxalxo banki"

ss "Tibisi banki"'

ss "taoprivatbanki"

ss "azerbaijanis saerTaSoriso banki - saqarTvelo"

ss "eiC es bi si banki saqarTvelo"

ss "xalik banki"

ss "progres banki"

ss "banki konstanta"

25. komerciuli bankebis dajgufeba fuladi saxiT ganaRdebuli

sawesdebo kapitalis mixedviT 2009 wlis 1 ianvris mdgomareobiT



26. saqarTveloSi moqmedi mikrosafinanso organizaciebis sia

2009 wlis 1 ianvris mdgomareobiT

N dasaxeleba registraciis TariRi registraciis nomeri

1 Sps m/o "qarTuli krediti " 04.10.2006 736

2 Sps m/o "alians jgufi " 09.10.2006 737

3 m/o Sps "Tbilbiznesi" 30.11.2006 931

4 Sps m/o "alfa eqspresi" 10.01.2007 7

5 Sps m/o "alfa krediti" 12.02.2007 50

6 Sps m/o "TAM krediti" 06.03.2007 107

7 Sps m/o "intel eqspres jorjia" 23.03.2007 143

8 Sps m/o "riko eqspresi" 11.04.2007 175

9 ss m/o "kristali" 18.09.2007 368

10 ss m/o "finagro" 30.11.2007 444

11 Sps m/o "kredo" 06.12.2007 452

12 ss m/o "kavkasus krediti" 13.12.2007 476

13 Sps m/o "imerkrediti" 18.12.2007 492

14 Sps m/o "kredit servisi" 20.12.2007 504

15 ss m/o "finka saqarTvelo" 28.12.2007 526

16 Sps m/o "eqspres krediti" 10.01.2008 6

17 ss m/o "lazika kapitali" 21.01.2008 23

18 Sps m/o "kreditservisi +" 06.02.2008 84

19 Sps m/o "kristal krediti" 03.04.2008 330

20 Sps m/o "sani" 12.06.2008 73

21 Sps m/o "moneta eqspres jorjia" 13.06.2008 82

22 Sps m/o "intelneti" 01.07.2008 120

23 Sps m/o "Tbilmikrokrediti" 17.10.2008 506

24 Sps m/o ,,amigo+" 30.10.2008 535

25 ss m/o "nike krediti" 30.10.2008 536

26 Sps m/o "kavkaskrediti" 19.11.2008 619

27 Sps m/o "X krediti" 27.01.2009 27-01/8



11. finansuri angariSgeba

finansuri angariSgeba

saqarTvelos erovnuli banki



damoukidebeli auditoris daskvnasTan erTad

damoukidebeli auditoris daskvna

sabalanso angariSgeba ............................................................................................................... 74

mogeba-zaralis angariSgeba ..................................................................................................... 75

kapitalSi cvlilebebis angariSgeba ........................................................................................ 76

fuladi nakadebis angariSgeba ................................................................................................. 77

finansuri angariSgebis TandarTuli SeniSvnebi

1. ZiriTadi saqmianoba .............................................................................................................. 79

2. Sedgenis safuZveli ............................................................................................................... 80

3. saaRricxvo politikis mimoxilva ...................................................................................... 83

4. mniSvnelovani buRaltruli Sefasebebi da daSvebebi ....................................................... 93

5. fuli da fuladi ekvivalentebi .......................................................................................... 93

6. moTxovnebi ararezidenti sakredito dawesebulebebis mimarT ....................................... 93

7. saerTaSoriso savaluto fondTan dakavSirebuli naSTebi ............................................. 94

8. gasayidad arsebuli fasiani qaRaldebi .............................................................................. 96

9. adgilobriv komerciul bankebze gacemuli sesxebi .......................................................... 97

10. dafarvis vadamde flobili fasiani qaRaldebi ............................................................. 97

11. gasayidad gankuTvnili ZiriTadi saSualebebi ................................................................ 98

12. ZiriTadi saSualebebi ......................................................................................................... 99

13. sxva aqtivebi da valdebulebebi .......................................................................................100

14. mimoqcevaSi gaSvebuli fuli .............................................................................................101

15. valdebulebebi adgilobrivi sakredito dawesebulebis mimarT ..................................101

16. valdebulebebi saqarTvelos finansTa saministros mimarT .........................................101

17. valdebulebebi sxva klientebis mimarT ...........................................................................102

18. gamoSvebuli sadepozito serTifikatebi .......................................................................102

19. kapitali .............................................................................................................................103

20. pirobiTi valdebulebebi ...................................................................................................105

21. wminda gasamrjelo da sakomisio xarji ........................................................................ 106

22. sxva Semosavali ................................................................................................................. 106

23. administraciuli xarjebi .................................................................................................107

24. riskebis marTva ...................................................................................................................108

25. finansuri instrumentebis realuri Rirebuleba ...........................................................118

26. finansuri aqtivebisa da valdebulebebis vadianobis analizi ......................................120

27. dakavSirebul mxareTa garigebebi ................................................................................... 121

28. sabalanso angariSgebis gamoSvebis TariRis Semdgomi movlenebi ...............................124



29 aprili 2009



saqarTvelos erovnuli bankis sabWos –

Cven CavatareT saqarTvelos erovnuli bankis (SemdgomSi “banki”) TandarTuli

finansuri angariSgebis auditi, romelic moicavs 2008 wlis 31 dekembris

mdgomareobiT momzadebul sabalanso angariSgebas, agreTve mogeba-zaralis

angariSgebas, kapitalSi cvlilebebis angariSgebasa da fuladi nakadebis

angariSgebas amave TariRiT dasrulebuli wlisaTvis, iseve rogorc mniSvnelovani

saaRricxvo politikis mimoxilvasa da sxva ganmartebiT SeniSvnebs.

xelmZRvanelobis pasuxismgebloba finansur angariSgebaze

xelmZRvaneloba pasuxismgebelia winamdebare finansuri angariSgebis momzadebasa da

samarTlian wardgenaze finansuri angariSgebis saerTaSoriso standartebis

Sesabamisad. aseTi pasuxismgebloba moicavs: uneblie Tu ganzrax daSvebuli arsebiTi

uzustobebis gareSe Sedgenili finansuri angariSgebis momzadebisa da samarTliani

wardgenis mizniT Sida kontrolis sistemebis SemuSavebas, danergvasa da

ganxorcielebas; Sesabamisi saaRricxovo politikis SerCevasa da gamoyenebas da

iseTi saaRricxvo Sefasebebis SemuSavebas, romlebic misaRebia konkretuli

viTarebisTvis.

auditoris pasuxismgebloba

Cven valdebulni varT, Cvens mier Catarebuli auditis safuZvelze gamovTqvaT

mosazreba aRniSnul finansur angariSgebaze. auditi CavatareT auditis

saerTaSoriso standartebis Sesabamisad. aRniSnuli standartebi moiTxovs eTikuri

normebis dacvas, agreTve, auditis imgvarad dagegmvasa da Catarebas, raTa

uzrunvelyofil iqnas garantia, rom finansuri angariSgeba ar Seicavs mniSvnelovan

uzustobas.

auditi gulisxmobs iseTi procedurebis Catarebas, romlebic gamiznulia

mtkicebulebis mopovebaze finansur angariSgebaSi moyvanili Tanxebisa da

monacemebis Taobaze. SerCeuli meTodika damokidebulia auditorTa mosazrebaze, maT

Soris, arsebiTi uzustobis riskis Sefasebis Taobaze, miuxedavad imisa, iqneba

msgavsi uzustoba daSvebuli uneblieT Tu ganzrax. imisaTvis, rom SeimuSaos

viTarebisa da garemoebis Sesatyvisi procedurebi, riskebis Sefasebisas auditori

iTvaliswinebs Sida kontrolis arsebul sistemebs, romlebic qmnis Sesabamis

pirobebs organizaciis mier finansuri angariSgebis momzadebisa da samarTliani

wardgenisaTvis. aRniSnulis mizans ar warmoadgens mosazrebis gamoxatva

organizaciis Sida kontrolis sistemebis efeqturobaze. auditi aseve moicavs

xelmZRvanelobis mier gamoyenebuli saaRricxvo politikis da saaRricxvo

Sefasebebis sisworisa da mTlianad finansuri angariSgebis wardgenis Sefasebas.

darwmunebulni varT, rom auditis procesSi mopovebuli rwmuneba sakmaris da

saTanado safuZvels gvaZlevs auditoruli daskvnisaTvis.

daskvna

Cveni azriT, finansuri angariSgeba samarTlianad asaxavs bankis finansur

mdgomareobas 2008 wlis 31 dekembris mdgomareobiT, finansuri Sedegebisa da fuladi

nakadebis CaTvliT amave TariRiT dasrulebuli wlisaTvis, finansuri angariSgebis

saerTaSoriso standartebis Sesabamisad.

Ernst & Young LLCKote Abkhazi Street, 44Tbilisi, 0105, GeorgiaTel: + 995 (32) 439375Fax: + 995 (32) 439375www.ey.com/georgia

Sps ernst end iangi

saqarTvelo, 0105 Tbilisi

kote afxazis quCa 44

tel: + 995 (32) 439375

faqsi: + 995 (32) 439375


mogeba-zaralis angariSgeba

2008 wlis 31 dekembers dasrulebuli wlisaTvis

SeniSvnebi 2008 2007

saprocento Semosavali

131,445 149,861

saprocento xarji

(38,285) (36,137)

wminda saprocento Semosavali

93,160 113,724

wminda saprocento Semosavali gaufasurebis rezervis

gaTvaliswinebiT

92,055 113,324

wminda arasaprocento Semosavali (xarji)

23,031 (50,450)

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611

sabalanso angariSgeba


(Tanxebi warmodgenilia aTas larSi)


aqtivebi

aqtivebi ucxour valutaSi

fuli da fuladi ekvivalentebi 5 1,434,590 1,145,318

moTxovnebi ararezidenti sakredito dawesebulebebis

mimarT

6 40,947 141,537

SDR-is angariSi saerTaSoriso savaluto fondSi 7 20,515 23,533

gasayidad arsebuli fasiani qaRaldebi 8 942,489 783,690

dafarvis vadamde flobili fasiani qaRaldebi 10 66,057 154,212

sxva aqtivebi 13 575 3

aqtivebi erovnul valutaSi

gasayidad arsebuli fasiani qaRaldebi 8 94,000 39,704

adgilobriv komerciul bankebze gacemuli sesxebi 9 209,412 73,132

dafarvis vadamde flobili fasiani qaRaldebi 10 690,796 738,782

gasayidad gankuTvnili ZiriTadi saSualebebi 11 11,260 865

ZiriTadi saSualebebi 12 19,027 34,707

aramaterialuri aqtivebi 221 413

sxva aqtivebi 13 5,054 8,038

sul aqtivebi 3,534,943 3,143,934

valdebulebebi

valdebulebebi ucxour valutaSi

valdebulebebi adgilobriv sakredito dawesebulebebis

mimarT

15 210,188 283,385

valdebulebebi saqarTvelos finansTa saministros

mimarT

16 16,342 9,518

valdebulebebi sxva klientebis mimarT 17 - 4,232

valdebulebebi saerTaSoriso savaluto fondis mimarT 7 763,789 400,900

sxva valdebulebebi 13 1,443 18

valdebulebebi erovnul valutaSi

mimoqcevaSi gaSvebuli fuli 14 1,290,703 1,310,488

valdebulebebi adgilobriv sakredito dawesebulebebis

mimarT

15 141,190 188,113

valdebulebebi saqarTvelos finansTa saministros

mimarT

16 863,629 440,613

valdebulebebi sxva klientebis mimarT 17 4,546 15,206

gamoSvebuli sadepozito serTifikatebi 18 77,352 376,541

sxva valdebulebebi 13 4,760 4,670

sul valdebulebebi 3,373,942 3,033,684

kapitali 19

sawesdebo kapitali 15,000 15,000

sarezervo fondi 119,597 60,692

ucxouri valutis gadafasebis rezervi 9,824 -

gasayidad arsebuli fasiani qaRaldebis gadafasebis

rezervi

16,580 9,558

gaunawilebeli mogeba - 25,000

sul kapitali 161,001 110,250

sul valdebulebebi da kapitali 3,534,943 3,143,934

xelmowerilia da damtkicebulia gamosaqveyneblad saqarTvelos erovnuli bankis sabWos mier:

giorgi qadagiZe erovnuli bankis sabWos Tavmjdomare

demna saxlTxuciSvili finansebisa da buRaltruli aRricxvis

departamentis ufrosi 29 aprili 2009

TandarTuli SeniSvnebi gverdebze 79-124 warmoadgens winamdebare finansuri angariSgebis ganuyofel nawils




aqtivebi aqtivebi ucxour valutaSi

3


sul aqtivebi 3,534,943 3,143,934

valdebulebebi




kapitali

sul kapitali 161,001 110,250








sul aqtivebi 3,534,943 3,143,934

valdebulebebi


18



kapitali

sul kapitali 161,001 110,250








sul aqtivebi 3,534,943 3,143,934

valdebulebebi


-



kapitali

sul kapitali 161,001 110,250








sul aqtivebi 3,534,943 3,143,934

valdebulebebi


-



kapitali

sul kapitali 161,001 110,250








221

sul aqtivebi 3,534,943 3,143,934

valdebulebebi




kapitali

sul kapitali 161,001 110,250








865

sul aqtivebi 3,534,943 3,143,934

valdebulebebi




kapitali

sul kapitali 161,001 110,250








413

sul aqtivebi 3,534,943 3,143,934

valdebulebebi




kapitali

sul kapitali 161,001 110,250








sul aqtivebi 3,534,943 3,143,934

valdebulebebi


15

16



kapitali

sul kapitali 161,001 110,250








sul aqtivebi 3,534,943 3,143,934

valdebulebebi



16


kapitali

sul kapitali 161,001 110,250








575


sul aqtivebi 3,534,943 3,143,934

valdebulebebi




kapitali

sul kapitali 161,001 110,250










sainvesticio fasiani qaRaldebi 89,857 88,490

moTxovnebi sakredito dawesebulebebis mimarT

32,186 59,176

adgilobriv komerciul bankebze gacemuli sesxebi

8,546 1,391

sxva

856 804

131,445 149,861

saprocento xarji

gamoSvebuli sadepozito serTifikatebi (33,699) (29,210)

valdebulebebi adgilobrivi komerciuli bankebis

mimarT (4,152) (4,179)

valdebulebebi saerTaSoriso finansuri

institutebis mimarT (358) (2,014)

sxva (76) (734)

(38,285) (36,137)


93,160 113,724

sxva aqtivebis gaufasurebis rezervi

13

(1,105) (400)


gaTvaliswinebiT

92,055 113,324

wminda mogeba (zarali) ucxouri valutidan:

- sakurso sxvaobebidan 9,824 (55,860)

- savaWro operaciebidan 2,709 1,382

wminda mogeba realizebuli fasiani qaRaldebidan 3,358 599

sxva Semosavali 22 7,140 3,429


23,031 (50,450)

personalze gaweuli xarji

23

(17,309) (17,450)

banknotebis da monetebis warmoebasTan dakavSirebuli

xarji

(13,264) (4,175)

cveTa da amortizacia

12, 23

(2,669) (3,305)

wminda gasamrjelo da sakomisio xarji 21 (608) (705)

sxva saoperacio xarji

23

(12,507) (7,628)

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611





131,445 149,861

saprocento xarji

(38,285) (36,137)


93,160 113,724

13


gaTvaliswinebiT

92,055 113,324


23,031 (50,450)

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611





131,445 149,861

saprocento xarji

(38,285) (36,137)


93,160 113,724


gaTvaliswinebiT

92,055 113,324


23,031 (50,450)

23

12, 23

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611





131,445 149,861

saprocento xarji

(38,285) (36,137)


93,160 113,724


gaTvaliswinebiT

92,055 113,324


23,031 (50,450)

23

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611



fuladi nakadebis angariSgeba



fuladi nakadebi saoperacio saqmianobidan

fuladi nakadebi saoperacio saqmianobidan saoperacio

aqtivebsa da valdebulebebSi cvlilebebamde

wminda fuladi nakadebi saoperacio saqmianobidan/

(saqmianobaSi)

8,093

922,924

fuladi nakadebi sainvesticio saqmianobidan


kapitalSi cvlilebebis angariSgeba



sawesdebo

kapitali sarezervo

fondi

ucxouri

valutis

gadafasebis

rezervi

gasayidad

arsebuli

fasiani

qaRaldebis

gadafasebis

rezervi gaunawilebeli

mogeba sul

kapitali

2006 wlis 31 dekemberi 15,000

56,081

- (143) 40,000 110,938

wminda ararealizebuli

mogeba gasayidad

arsebuli aqtivebidan

-

-

- 10,335

- 10,335

gasayidad arsebuli

aqtivebis gasvlis gamo

wminda realizebuli

mogebis gadatana mogeba-

zaralis angariSgebaSi

(SeniSvna 19)

-

-

- (634)

- (634)

wlis wminda mogeba

aRiarebuli pirdapir

kapitalSi -

-

- 9,558 - 9,558

wlis wminda mogeba - - - - 29,611 29,611

sul aRiarebuli mogeba -

-

- 9,558 29,611 39,169

saqarTvelos finansTa

saministrosaTvis

gadaricxva (SeniSvna 19) - -

- - (40,000) (40,000)

sarezervo fondSi gadatana

(SeniSvna 19) -

4,611

- - (4,611) -

2007 wlis 31 dekemberi 15,000

60,692

- 9,558 25,000 110,250

wminda ararealizebuli

mogeba gasayidad

arsebuli aqtivebidan

- -

- 10,380 - 10,380

gasayidad arsebuli

aqtivebis gasvlis gamo

wminda realizebuli

mogebis gadatana mogeba-

zaralis angariSgebaSi

(SeniSvna 19)

- -

- (3,358) - (3,358)

wlis wminda mogeba

aRiarebuli pirdapir

kapitalSi - -

- 16,580 - 16,580

wlis wminda mogeba

- -

- - 68,729 68,729

sul aRiarebuli mogeba - - 16,580 68,729 85,309


saministrosaTvis

gadaricxva (SeniSvna 19)

-

-

- - (25,000) (25,000)

ucxouri valutis

gadafasebis rezervSi

gadatana (SeniSvna 19) - -

9,824 - (9,824) -

sarezervo fondSi gadatana

(SeniSvna 19)

- 58,905

- - (58,905) -

2008 wlis 31 dekemberi 15,000 119,597 9,824 16,580 - 161,001








miRebuli procenti

144,145

147,697

gadaxdili procenti

(35,068)

(30,536)

miRebuli gasamrjelo da sakomisio

2,006

672

gadaxdili gasamrjelo da sakomisio

(2,614)

(1,377)

sainvesticio fasiani qaRaldebidan miRebul wminda mogeba

3,358

599

wminda realizebuli mogeba/(zarali) ucxour valutaSi

ganxorcielebuli operaciebidan

2,708 1,382

sxva Semosavali

7,140

3,429

personalze gaweuli xarjebi

(16,513)

(17,865)


(22,998)

(11,161)



82,164

92,840

saoperacio aqtivebis wminda (zrda)/kleba

moTxovnebi sakredito dawesebulebebis mimarT

67,418

210,952

SDR-is angariSi saerTaSoriso savaluto fondSi

2,576

(23,514)

adgilobriv komerciul bankebze gacemuli sesxebi

(136,400)

(53,132)

sxva aqtivebi

1,334

1,121

saoperacio valdebulebebis wminda zrda/(kleba)

mimoqcevaSi gaSvebuli fuli

(19,785)

380,855

valdebulebebi adgilobrivi sakredito dawesebulebebis

mimarT

(111,844)

139,282

valdebulebebi saqarTvelos finansTa saministros mimarT

430,345

73,774

valdebulebebi sxva klientebis mimarT

(14,892)

-

gamoSvebuli sadepozito serTifikatebi

1,817,280

2,942,242

dafaruli sadepozito serTifikatebi

(2,111,628)

(2,847,502)

sxva valdebulebebi

1,525

6,006


(saqmianobaSi)

8,093

922,924


ZiriTadi saSualebebisa da aramaterialuri aqtivebis

gayidvidan miRebuli Semosavali

21

276

dafarvis vadamde flobili sainvesticio fasiani qaRaldebis

Sesyidva

-

(98,972)

dafarvis vadamde flobili sainvesticio fasiani qaRaldebis

dafarvidan miRebuli Semosavali

83,608

88,049

gasayidad arsebuli sainvesticio fasiani qaRaldebis

Sesyidva

(1,471,364)

(1,214,397)

gasayidad arsebuli sainvesticio fasiani qaRaldebis

realizaciidan miRebuli Semosavali

1,291,197

689,636

ZiriTadi saSualebebis Sesyidva



(808) (406)

wminda fuladi nakadebi sainvesticio

saqmianobidan/(saqmianobaSi)

(97,356)

(535,844)

fuladi saxsrebi safinanso saqmianobidan

wminda fuladi nakadebi safinanso


346,409

(34,869)

fulisa da fuladi ekvivalentebis wminda zrda

289,272

322,410

fuli da fuladi ekvivalentebi, wlis dasawyisi

5

fuli da fuladi ekvivalentebi, wlis bolo

5

SDR







92,840


(saqmianobaSi)

8,093

922,924








6,006


(saqmianobaSi)

8,093

922,924









(saqmianobaSi)

8,093

922,924






2,708




(saqmianobaSi)

8,093

922,924








1,817,280


(saqmianobaSi)

8,093

922,924








(2,111,628)


(saqmianobaSi)

8,093

922,924









(saqmianobaSi)

8,093

922,924


-








(saqmianobaSi)

8,093

922,924


(1,471,364)








(saqmianobaSi)

8,093

922,924


1,291,197








(saqmianobaSi)

8,093

922,924






i




(saqmianobaSi)

8,093

922,924






i




(saqmianobaSi)

8,093

922,924




1. ZiriTadi saqmianoba

2008 wlis 31 dekembris

mdgomareobiT


mdgomareobiT

Tanamdeboba saxeli saxeli



aramaterialuri aqtivebis Sesyidva

(10)

(30)



(97,356)

(535,844)


saqarTvelos finansTa saministrosaTvis ganawilebuli

Tanxis gadaricxva

(25,000)

(40,000)

saerTaSoriso savaluto fondidan miRebuli sesxebi

415,186

5,131

saerTaSoriso savaluto fondis mimarT valdebulebebis

dafarva

(43,777)

-



346,409

(34,869)

savaluto kursis gavlena fulsa da fulad ekvivalentebze

32,126

(29,801)


289,272

322,410


5

1,145,318

822,908


5

1,434,590

1,145,318









(saqmianobaSi)

8,093

922,924







(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5

1,145,318





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5

1,145,318


5





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5

1,434,590




(30)



(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)


5,131



346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)


-



346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)


(40,000)



346,409

(34,869)


289,272

322,410


5


5





(97,356)

(535,844)




346,409

(34,869)

(29,801)


289,272

322,410


5


5





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5

822,908


5


1. ZiriTadi saqmianoba

saqarTvelos erovnuli banki (SemdgomSi “banki”) warmoadgens saqarTvelos centralur banks, bankTa

banks da saqarTvelos mTavrobis bankirsa da fiskalur agents. banki moqmedebs “saqarTvelos erovnuli

bankis Sesaxeb” saqarTvelos organuli kanonis Sesabamisad, romelic ZalaSi Sevida 1995 wlis 23 ivniss

(SemdgomSi “kanoni”), xolo kanonSi bolo cvlileba safinanso debulebis, bankis safinanso da saerTo

angariSgebis Sesaxeb moxda 2008 wlis 14 marts.

kanonis me-2 muxlSi gawerilia bankis Semdegi miznebi da funqciebi:

bankis ZiriTadi amocanaa fasebis stabilurobis uzrunvelyofa;

erovnulma bankma unda uzrunvelyos finansuri sistemis stabiluroba da gamWvirvaloba da

xeli Seuwyos qveyanaSi mdgrad ekonomikur zrdas, Tue s SesaZlebelia ise, rom safrTxe ar

Seeqmnas misi ZiriTadi amocanis Sesrulebas;

SeimuSaos da ganaxorcielos fulad-sakredito da savaluto politika saqarTvelos

parlamentis mier gansazRvruli ZiriTadi mimarTulebebis Sesabamisad;

flobdes, Seinaxos da gankargos oficialuri saerTaSoriso rezervebi;

iyos saqarTvelos mTavrobis bankiri da fiskaluri agenti; “momavali Taobebisa da stabiluri

ganviTarebis fondebis Sesaxeb” saqarTvelos kanonis Tanaxmad, uzrunvelyos generaluri

agentisa da stabiluri ganviTarebis fondis mmarTvelis funqciebi da maTTan dakavSirebuli

RonisZiebebis ganxorcieleba;

uzrunvelyos sagadaxdo sistemebis efeqtiani da gamarTuli funqcionireba;

ganaxorcielos saqarTvelos fulis niSnebis emisia;

saerTaSoriso standartebisa da meTodologiebis Sesabamisad awarmoos da gaavrcelos qveynis

finansuri da sagareo seqtoris statistika;

masTan arsebuli sajaro samarTlis iuridiuli pirebis – saqarTvelos safinanso

zedamxedvelobis saagentos da saqarTvelos finansuri monitoringis samsaxuris meSveobiT,

organuli kanonis Sesabamisad ganaxorcielos finansuri seqtoris zedamxedveloba da ukanono

Semosavlis legalizebisa da terorizmis dafinansebis aRkveTis xelSewyoba;

Seasrulos organuli kanoniT gansazRvruli sxva funqciebi.

saqarTvelos kanonmdeblobisa da saqarTvelos mTavrobis mier xelmowerili saerTaSoriso

xelSekrulebebis Tanaxmad, banki kanoniT dadgenili funqciebisa da pasuxismgeblobebis farglebSi

waradgens saqarTvelos ucxouri centraluri bankebisa da saerTaSoriso safinanso da sakredito

dawesebulebebis winaSe.

banki uflebamosilia gaaformos TanamSromlobis xelSekrulebebi ucxour centralur bankebTan misi

saqmianobis farglebSi. banks SeuZlia gaaformos kliringis, saangariSsworebo Tu sxva saxis

xelSekrulebebi ucxour sajaro da kerZo kliringis saagentoebTan, Tavisi saxeliT da

uflebamosilebis arsebobi SemTxvevaSi saqarTvelos mTavrobis saxeliT.

banki uflebamosilia monawileoba miiRos saerTaSoriso organizaciebis kapitalsa da saqmianobaSi

fulad, savaluto da sabanko sferoebSi TanamSromlobis mizniT.

saqarTvelos erovnuli bankis sabWo (SemdgomSi “sabWo”) Sedgeba Semdegi wevrebisgan:


mdgomareobiT


mdgomareobiT

Tanamdeboba saxeli saxeli

Tavmjdomare (prezidentis

movaleobis Semsrulebeli) daviT amaRlobeli daviT amaRlobeli

wevri simon gelaSvili simon gelaSvili

wevri mixeil ToqmaziSvili mixeil ToqmaziSvili

wevri omar JiJavaZe omar JiJavaZe

wevri - aleqsi aleqsiSvili

wevri Temur Sengelia Temur Sengelia

bankis saTao ofisi mdebareobs Semdeg misamarTze: leoniZis q. 3/5, Tbilisi, saqarTvelo, 0105. banks

gaaCnia erTi regionaluri filiali (2007: oTxi filiali). 2008 wlis 31 dekemberis mdgomareobiT bankSi

iyo dasaqmebuli 318 TanamSromeli (2007: 605).

Tanxebi warmodgenilia aTas larSi





(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5








(saqmianobaSi)

8,093

922,924






(97,356)

(535,844)




346,409

(34,869)


289,272

322,410


5


5



2. Sedgenis safuZveli (gagrZeleba)

reklasifikaciebi (gagrZeleba)

wina periodSi

warmodgenili

reklasificirebu

li aRwera

2. Sedgenis safuZveli

zogadi informacia

winamdebare finansuri angariSgeba momzadebulia “finansuri angariSgebis saerTaSoriso standartebis”

(“fass”) Sesabamisad.

banks buRaltruli aRricxvis warmoeba da finansuri angariSgebis momzadeba moeTxoveba qarTul larSi

“fass”-is Sesabamisad.

lari warmoadgens bankis warsadgen da samuSao valutas, radganac lari aris im ekonomikuri garemos

valuta, romelSic banki funqcionirebs. operaciebi sxva valutaSi aRricxulia rogorc operaciebi

ucxour valutaSi. winamdebare finansuri angariSgeba momzadebulia aTas larSi (“lari”), Tuki

sxvagvarad ar iqna miTiTebuli.

winamdebare finansuri angariSgeba momzadebul iqna istoriuli Rirebulebis principze dayrdnobiT,

garda im SemTxvevebisa, romlebic aRwerilia qvemoT mocemul sabuRaltro politikaSi. mag. gasayidad

arsebuli fasiani qaRaldebi gansazRvrulia sabazro RirebulebiT.

reklasifikaciebi

2008 wlis wardgenasTan SesabamisobisobaSi mosayvanad Semdegi reklasifikaciebi ganxorcielda 2007

wlis finansur angariSgebaSi:

wina periodSi

warmodgenili Reklasificirebu i aRwera

fuli da fuladi

ekvivalentebi - 1,145,318

reklasifikacia fuladi saxsrebidan

da bankebisa da sxva finansuri

institutebis mimarT moTxovnebidan

fulsa da fulad ekvivalentebSi

moTxovnebi sakredito

dawesebulebebis

mimarT

- 141,537

reklasifikacia bankebisa da sxva

finansuri istitutebis mimarT

moTxovnebidan sakredito

dawesebulebebis mimarT

moTxovnebSi

fuladi saxsrebi 26,970 -

reklasifikacia fuladi saxsrebidan

da bankebisa da sxva finansuri

institutebis mimarT moTxovnebidan

fulsa da fulad ekvivalentebSi

moTxovnebi bankebisa

da sxva finansuri

institutebis mimarT

1,259,885 -

reklasifikacia bankebisa da sxva

finansuri institutebis mimarT

moTxovnebidan fulsa da fulad

ekvivalentebsa da sakredito


moTxovnebSi

sxva aqtivebi 5,083 8,038

mTavrobaze da TanamSromlebze

gacemuli sesxebis reklasifikacia

sxva aqtivebSi

mTavrobaze gacemuli

sesxebi 3 -

mTavrobaze gacemuli sesxis

reklasifikacia sxva aqtivebSi

TanamSromlebze

gacemuli sesxebi 2,952 -

TanamSromlebze gacemuli sesxebis

reklasifikacia sxva aqtivebSi

saprocento

Semosavali 149,861 -

saprocento Semosavlis

reklasifikacia sainvesticio

fasiani qaRaldebidan, sakredito


moTxovnebidan, bankebze gacemuli

sesxebidan da sxva angariSgebidan

miRebul saprocento Semosavalze

saprocento

Semosavali

sainvesticio

fasiani

qaRaldebidan

- 88,490


reklasifikacia sainvesticio

fasiani qaRaldebidan miRebul

saprocento Semosavalze

saprocento

Semosavali

sakredito

dawesebulebebis

- 59,176


reklasifikacia sakredito


moTxovnebidan miRebul saprocento


mimarT

moTxovnebidan

Semosavalze



wina periodSi

warmodgenili

reeklasificirebul

i aRwera





wina periodSi

warmodgenili

reklasificirebu

li aRwera

saprocento

Semosavali bankebze

gacemul sesxebidan

- 1,391


reklasifikacia bankebze gacemuli

sesxebidan miRebul saprocento

Semosavalze

Saprocento

Semosavali sxva

angariSebidan

- 804


reklasifikacia sxva angariSgebidan

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Semosavali

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ucxouri valutiT ganxorcielebuli

operaciebidan miRebuli wminda

mogebis (zaralis) warmodgena

sakurso sxvaobebidan da ucxouri

valutiT ganxorcielebuli

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valutiT

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mogebad/(zaralad)



wina periodSi

warmodgenili

reklasificirebu

li aRwera



wina periodSi

warmodgenili

reklasificirebu

li aRwera

sa



wina periodSi

warmodgenili

reklasificirebu

li aRwera

2. Sedgenis safuZveli

zogadi informacia

reklasifikaciebi

wina periodSi

warmodgenili Reklasificirebu i aRwera



3. saaRricxvo politikis mimoxilva

cvlilebebi saaRricxvo politikaSi



wina periodSi

warmodgenili

reklasificirebul

i aRwera

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xarji - (17,450)

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xarjebze

banknotebis da

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xarji

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xarjebze

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xarjebze




wina periodSi

warmodgenili

reklasificirebu

li aRwera




wina periodSi

warmodgenili

reklasificirebul

i aRwera


3. saaRricxvo politikis mimoxilva

cvlilebebi saaRricxvo politikaSi

buRaltruli aRricxvis mimdinare politika wina wlis buRaltruli aRricxvis politikis Sesabamisia,

magram ar aris gaTvaliswinebuli “bass”-sa da “fass”-Si wlis ganmavlobaSi Setanili Semdegi axali

cvlilebebi:

finansuri aqtivebis reklasifikacia – bass 39-is “finansuri instrumentebi: aRiareba da Sefaseba” da

fass 7-is “finansuri instrumentebi: ganmartebiTi SeniSvnebi” cvlilebebi.

bass 39-is da fass 7-is cvlilebebi gamocemul iqna 2008 wlis 13 oqtombers da aRniSnuli cvlilebebiT,

gansakuTrebul SemTxvevebSi SesaZlebelia arawarmoebuli finansuri aqtivebis reklasifikacia savaWrod

flobili kategoriidan. cvlilebebiT aseve nebadarTulia rigi finansuri aqtivebis gadatana gasayidad

arsebuli kategoriidan sesxebisa da moTxovnebis kategoriaSi. aRniSnuli cvlilebebis ZalaSi Sesvlis

TariRia 2008 wlis 1 ivlisi. nebismieri reklasifikacia ganxorcielebuli 2008 wlis 1 noembridan an mis

Semdgom periodSi ZalaSi unda Sevides mxolod reklasifikaciis TariRidan.

Tu savaWrod flobilad klasificirebuli arawarmoebuli finansuri aqtivi aRar aris uaxloes

momavalSi gasayidad gamiznuli, SesaZlebelia misi reklasifikacia realuri RirebulebiT mogebaSi an

zaralSi asaxviT kategoriaSi, Semdeg SemTxvevebSi:

- finansuri aqtivi, romelic daakmayofilebs sesxebisa da moTxovnebis kategoriis gansazRvrebas,

SesaZloa reklasificirebul iqnas sesxebisa da moTxovnebis kategoriaSi, Tu banks aqvs

ganzraxva da SesaZlebloba Seinaxos aRniSnuli aqtivi gansazRvruli droiT, vadis dadgomamde;

- iSviaT SemTxvevebSi, sxva finansuri aqtivebi SesaZloa reklasificirebul iqnas gasayidad

arsebul an dafarvis vadamde flobil kategoriaSi.

gasayidad arsebulad klasificirebuli finansuri aqtivi, romelic daakmayofilebs sesxebisa da

moTxovnebis kategoriis gansazRvrebas, SesaZloa reklasificirebul iqnas sesxebsa da moTxovnebze, Tu

banks aqvs ganzraxva da SesaZlebloba, Seinaxos aRniSnuli aqtivi gansazRvruli droiT, vadis

dadgomamde;

finansuri aqtivis reklasifikacia xdeba misi realuri RirebulebiT reklasifikaciis TariRisaTvis. ar

xdeba mogeba-zaralis angariSgebaSi aRiarebuli nebismieri mogebis an zaralis Sebruneba. finansuri

aqtivis realuri Rirebuleba reklasifikaciis TariRisaTvis warmoadgens mis axal Rirebulebas an

amortizirebul Rirebulebas Sesabamisad.

2008 wlis ganmavlobaSi zemoTxsenebuli reklasifikacia ar ganxorcielebula.




wina periodSi

warmodgenili

reklasificirebul

i aRwera



3. saaRricxvo politikis mimoxilva (gagrZeleba)

finansuri aqtivebi (gagrZeleba)

fass 7 “finansuri instrumentebi: ganmartebiTi SeniSvnebi”

fuli da fuladi ekvivalentebi

warmoebuli finansuri instrumentebi


finansuri aqtivebi

Tavdapirveli aRiareba

bass 39-is Sesabamisad, finansuri aqtivebi klasificirebulia realuri RirebulebiT mogeba an zaralSi

asaxviT, sesxebad da moTxovnebad, vadamde flobil fasian qaRaldebad an gasayidad arsebul finansur

aqtivebad. finansuri aqtivebis Tavdapirveli aRiarebisas, maTi aRricxva xdeba realuri RirebulebiT,

rasac emateba uSualod garigebasTan dakavSirebuli xarjebi mxolod im investiciebisaTvis, romlebic

ar aisaxeba realuri RirebulebiT mogeba an zaralSi asaxviT. banki gansazRvravs finansuri aqtivebis

klasifikacias Tavdapirveli aRiarebisas.

aRiarebis TariRi

rogorc wesi, finansuri aqtivebis SeZenisa da gayidvebis aRiareba xdeba angariSsworebis TariRiT.

finansuri aqtivebi realuri RirebulebiT mogebaSi an zaralSi asaxviT

savaWrod flobili finansuri aqtivebi Sesulia kategoriaSi "finansuri aqtivebi realuri RirebulebiT

mogebaSi an zaralSi asaxviT". finansuri aqtivebi klasificirebulia rogorc savaWrod flobili im

SemTxvevaSi, Tu isini unda gaiyidos axlo momavalSi. warmoebuli finansuri instrumentebi agreTve

klasificirdeba rogorc savaWrod flobili, Tu isini ar ganekuTvneba efeqturi hejirebis

instrumentebs. savaWrod flobili finansuri aqtivebidan mogeba-zarali aisaxeba mogeba-zaralis

angariSgebaSi.

vadamde flobili investiciebi

finansuri aqtivebi, romlebic ar warmoadgenen warmoebul finansur instrumentebs da gaaCniaT

fiqsirebuli an gansazRvradi dafarvebis grafiki da fiqsirebuli vada, klasificirdebian rogorc

vadamde flobili fasiani qaRaldebi, rodesac banks Seswevs maTi vadamde flobis unari. es

gansazRvreba ar moicavs ganusazRvreli vadis mqone investiciebs. investiciebi vadamde flobil fasian

qaRaldebSi aisaxeba amortizebuli RirebulebiT. es Rirebuleba gamoiTvleba rogorc Tavdapirvelad

aRiarebul Tanxas gamoklebuli yvela Semdgomi dafarva, damatebuli an gamoklebuli akumulirebuli

amortizacia, romelic gamoiTvleba efeqturi saprocento ganakveTis meTodis gamoyenebiT,

Tavdapirvelad aRiarebul Tanxas da vadis amowurvisas arsebul Tanxas Soris sxvaobasTan mimarTebaSi.

es gamoTvla moicavs nebismier gasamrjeloda da miRebul Tu gadaxdil Tanxebs mxareebs Soris

xelSekrulebiT, romliTac gansazRvrulia efeqturi saprocento ganakveTi, operaciis sakomisio Tu

sxva premiebi da fasdaklebebi. amortizebuli RirebulebiT aRricxuli investiciebisaTvis, mogebisa da

zaralis aRiareba xdeba mogeba zaralis angariSgebaSi investiciis aRiarebis Sewyvetisas, agreTve

amortizaciis procesSi.

sesxebi da moTxovnebi

sesxebi da moTxovnebi arawarmoebuli finansuri aqtivebia, romelTac gaaCniaT fiqsirebuli an

gansazRvruli gadasaxadi da romelTa kotireba ar xdeba bazarze. isini ar klasificirdeba rogorc

savaWro fasiani qaRaldebi, ar ganisazRvreba rogorc vaWrobisTvis gankuTvnili fasiani qaRaldebi da

ar gamoiyeneba mokle periodSi gayidvis mizniT. aseTi aqtivebi aRiricxeba amortizebuli RirebulebiT,

efeqturi saprocento ganakveTis meTodis gamoyenebiT. mogebisa da zaralis aRiareba mogeba-zaralis

angariSgebaSi xdeba sesxisa da moTxovnis gaufasurebisas, agreTve amortizaciis procesSi.

gasayidad arsebuli finansuri aqtivebi

gasayidad arsebuli finansuri aqtivebi is arawarmoebuli finansuri aqtivebia, romlebic

gansazRvrulia rogorc gasayidad arsebuli an ar klasificirdeba zemoTaRniSnul sam kategoriaSi.

Tavdapirveli aRiarebis Semdgom, gasayidad arsebuli finansuri aqtivebis Sefaseba xdeba realuri

RirebulebiT, mogebisa da zaralis kapitalSi calke komponentad aRiarebiT, investiciis aRiarebis

Sewyvetamde an gaufasurebamde, romlis drosac kapitalSi aRricxuli akumulirebuli mogeba Tu

zarali aRiricxeba mogeba-zaralis angariSgebaSi. Tumca, efeqturi saprocento ganakveTis meTodiT

gamoangariSebuli saprocento Semosavlebis aRiareba xdeba mogeba-zaralis angariSgebaSi.





finansuri aqtivebi (gagrZeleba)

realuri Rirebulebis gansazRvra

finansur bazarze gasayidad arsebuli investiciebis realuri Rirebuleba ganisazRvreba organizebul

finansur bazrebze kotirebuli sabazro fasdadebiT balansis Sedgenis TariRisaTvis, saoperacio

xarjis gamoklebis gareSe. sxva danarCeni finansuri instrumentebisaTvis, romelTa sabazro pirobebTan

Sedarebac ver xerxdeba, realuri Rirebuleba ganisazRvreba diskontirebuli fuladi nakadebis

analizis da sxva Sesabamisi Sefasebis modelebis gamoyenebiT.

gaqviTva

finansuri aqtivebisa da valdebulebebis gaqviTva da maTi wminda TanxiT sabalanso angariSgebaSi

aRricxva xdeba maSin, rodesac arsebobs Sesabamisi Tanxebis gaqviTvis iuridiuli ufleba da maTi

wminda saxiT dafarvis ganzraxva, an ganzraxva, moxdes aqtivis realizacia da valdebulebis myisieri

dafarva.

fass 7 “finansuri instrumentebi: ganmartebiTi SeniSvnebi”

fass 7 moiTxovs finansuri instrumentebidan aRmocenebuli riskebis Taobaze xarisxobrivi da

raodenobrivi informaciis damatebiT gaSlas. zogadad, fass 7 moiTxovs sakredito, likvidobisa da

sabazro riskebis minimalur ganmartebas. fass 7 cvlis bass 30-s “bankebisa da analogiuri safinanso

dawesebulebebis finansuri angariSgebis ganmartebiTi SeniSvnebi” da ganmartebiTi SeniSvnebis

moTxovnas bass 32-iT - „finansuri instrumentebi: wardgena.“ ganmartebiTi SeniSvnebi mocemulia

finansur angariSgebaSi.

fuli da fuladi ekvivalentebi

fuli da fuladi ekvivalentebi Sedgeba naRdi fulis, SeuzRudavi naSTebisgan sakorespondento

angariSebze, erTdRiani depozitebis CaTvliT da sakredito dawesebulebebisadmi moTxovnebisgan,

romelTac gaaCniaT gamoSvebidan 90 dRis vada da Tavisufalni arian sakontraqto valdebulebebisgan.

warmoebuli finansuri instrumentebi

Cveulebriv, biznes saqmianobisas banki awarmoebs forvardul operaciebs warmoebuli finansuri

instrumentebiT. amgvari finansuri instrumentebi gamoiyeneba vaWrobisTvis da fasdeba realuri

RirebulebiT. realuri Rirebuleba ganisazRvreba kotirebuli sabazro RirebulebiT, an fasdadebis

modelis Sesabamisad, sadac gaTvaliswinebulia am instrumentis mimdinare sabazro da sakontraqto

fasi da sxva faqtorebi. warmoebuli finansuri instrumentebi aisaxeba rogorc aqtivebi, rodesac maTi

realuri Rirebuleba dadebiTia, da rogorc valdebulebebi, rodesac maTi realuri Rirebuleba

uaryofiTia. am instrumentebidan miRebuli Semosavlebi da xarjebi aisaxeba mogeba-zaralis

angariSgebaSi, rogorc savaWrod flobili fasiani qaRaldebidan miRebul mogebas gamoklebuli zarali

an savaluto operaciebidan miRebul mogebas gamoklebuli zarali, gamomdinare instrumentis bunebidan.

sxva finansur instrumentebSi CarTuli warmoebuli finansuri instrumentebi moiazreba rogorc

calkeuli da maTi aRricxva xdeba realuri RirebulebiT, Tu maTi ekonomikuri maxasiaTeblebi da

riskebi ar aris mWidrod dakavSirebuli sakontraqto finansur instrumentebTan, xolo isini ki, Tavis

mxriv ar aris vaWrobisTvis gamiznuli an realuri RirebulebiT mogebaSi an zaralSi asaxviT.

calkeulad miCneuli, CarTuli warmoebuli finansuri instrumentebi savaWro portfelSi aRiricxeba

realuri RirebulebiT, xolo realuri Rirebulebis cvlilebebi aRiarebulia mogeba-zaralis

angariSgebaSi.



finansuri aqtivebi




finansuri aqtivebis gaufasureba (gagrZeleba)

finansuri aqtivebisa da valdebulebebis aRiarebis Sewyveta


nasesxebi saxsrebi

gamoSvebuli finansuri instrumentebi an maTi komponentebi klasificirebulia rogorc valdebulebebi,

rodesac sakontraqto garigebebis Sedegad banks warmoeSoba fuladi an sxvagvari valdebuleba

mflobelis winaSe, an rodesac banki awarmoebs gacvliT operaciebs sakuTari kapitalis instrumentebiT.

amgvari instrumentebi moicavs valdebulebebs samTavrobo organizaciebis, sakredito dawesebulebebis,

klientebis, saerTaSoriso savaluto fondis winaSe, agreTve gamoSvebul sasesxo fasian qaRaldebs.

aRniSnuli Tavdapirvelad aRiarebulia miRebuli safasuris samarTliani RirebulebiT, rasac akldeba

Sesabamis operaciasTan pirdapir dakavSirebuli Tanxebi. Tavdapirveli aRiarebis Semdgom, nasesxebi

saxsrebis Sefaseba xdeba amortizebuli RirebulebiT, efeqturi saprocento ganakveTis gamoyenebiT.

mogebisa da zaralis aRiareba mogeba-zaralis angariSgebaSi xdeba valdebulebis Camowerisas, agreTve

cveTis procesSi.

finansuri aqtivebis gaufasureba

banki sabalanso angariSgebis Sedgenis TariRiT asaxavs finansuri aqtivebis an finansuri aqtivebis

jgufis gaufasurebas obieqturi mtkicebulebis arsebobis pirobebSi.

finansuri aqtivi Tu finansuri aqtivebis jgufi gaufasurebulad miiCneva maSin da mxolod maSin, Tu

arsebobs raime faqtis (faqtebis) Sedegad gamowveuli gaufasurebis obieqturi safuZveli, romelsac

adgili hqonda aqtivis Tavdapirveli aRiarebis Semdgom (warmoSobili “zaralis faqti”) da zaralis

faqts (fatebs) gavlena aqvs finansuri aqtivisa Tu finansuri aqtivebis jgufis savaraudo samomavlo

fulad nakadebze, romelTa sarwmunod gansazRvrac SesaZlebelia. gaufasurebis safuZveli SesaZloa

migvaniSnebdes, rom msesxebeli, Tu msesxebelTa jgufi ganicdis finansur sirTuleebs, arRvevs

procentisa Tu ZiriTadi Tanxis dafarvis ganrigs, arsebobs misi gakotrebis albaToba da sxva, an Tu

savaraudoa samomavlo fuladi nakadebis kleba ekonomikuri pirobebis cvlilebidan gamomdinare, rac

gamoiwvevs sakontraqto pirobebis darRvevas.

moTxovnebi sakredito dawesebulebis mimarT da bankebze gacemuli sesxebi

sakredito dawesebulebebis mimarT moTxovnebisa da bankebze gacemuli sesxebisaTvis, banki

Tavdapirvelad adgens, arsebobs Tu ara gaufasurebis obieqturi safuZveli mniSvnelovani gavlenis

mqone finansuri aqtivebisTvis individualurad, an koleqtiurad amgvari gavlenis individualurad

armqone finansuri aqtivebisaTvis. Tu dadginda, rom ar arsebobs gaufasurebis obieqturi safuZveli,

aqtivis CarTva xdeba finansuri aqtivebis jgufSi, romelTac gaaCniaT analogiuri sakredito riskebi da

am finansuri aqtivebis jgufis erToblivi Sefaseba xdeba gaufasurebasTan mimarTebaSi. aqtivebi,

romelTa individualuri Sefaseba xdeba gaufasurebasTan mimarTebaSi da romelTaTvisac xdeba

gaufasurebis zaralis aRiareba, ar aris CarTuli gaufasurebasTan mimarTebaSi aqtivebis koleqtiuri

Sefasebis procesSi.

Tu arsebobs gaufasurebis zaralis warmoSobis obieqturi safuZveli, zaralis Tanxa aRiricxeba

rogorc sxvaoba aqtivis sabalanso Rirebulebasa da samomavlo fuladi nakadebis mimdinare

Rirebulebas Soris (mosalodneli samomavlo sakredito zaralis gamoklebiT, romelsac adgili ar

hqonia). aqtivis sabalanso Rirebuleba mcirdeba gaufasurebis rezervis gamoyenebiT, xolo zaralis

Tanxa aRiarebulia mogeba-zaralis angariSgebaSi. saprocento Semosavali ericxeba Semcirebul

sabalanso Rirebulebas aqtivis Tavdapirvel efeqtur saprocento ganakveTze dayrdnobiT. sesxebi

dakavSirebul rezervTan erTad Camoiwereba maSin, rodesac maTi amoReba aRar aris realurad

mosalodneli da realizebulia an bankis mflobelobaSia gadacemuli yvela arsebuli uzrunvelyofa.

Tu SemdgomSi gaufasurebis zarali izrdeba, an mcirdeba gaufasurebis aRiarebis Semdgomi movlenis

gamo, uwin aRiarebuli gaufasurebis zarali izrdeba an mcirdeba gaufasurebis rezervis koreqtirebiT.

Tu momavalSi moxerxda Camowerili Tanxis amoReba, is kreditdeba mogeba-zaralis angariSgebaSi.

mosalodneli samomavlo fuladi nakadebis mimdinare Rirebuleba diskontirebulia finansuri aqtivis

Tavdapirveli efeqturi saprocento ganakveTiT. Tu sesxs gaaCnia cvladi saprocento ganakveTi,

diskauntis ganakveTi gaufasurebis zaralis Sesafaseblad warmoadgens mimdinare saprocento ganakveTs.

uzrunvelyofili finansuri aqtivis samomavlo fuladi nakadebis mimdinare Rirebulebis gamoTvla

asaxavs fulad nakadebs, romlebic gamomdinareobs gamoyenebuli uzrunvelyofidan, rasac akldeba

uzrunvelyofis miRebasTan da realizaciasTan dakavSirebuli xarjebi, imisda miuxedavad,

mosalodnelia Tu ara uzrunvelyofis gamoyeneba.

gaufasurebis koleqtiurad Sefasebis mizniT, finansuri aqtivebi dajgufebulia bankis Sida sakredito

rangirebis sistemaze dayrdnobiT, romelic iTvaliswinebs sakredito riskis maxasiaTeblebs,

rogorebicaa aqtivis tipi, industriis dargi, geografiuli mdebareoba, uzrunvelyofis tipi,

vadagadacilebis statusi da sxva.





finansuri aqtivebis gaufasureba (gagrZeleba)

finansuri aqtivebis samomavlo fuladi nakadebi, koleqtiurad Sefasebuli gaufasurebasTan

mimarTebaSi, gansazRvrulia istoriuli zaralis mixedviT, msgavsi sakredito riskis maxasiaTeblebis

mqone aqtivebis Sesabamisad. istoriuli zarali koreqtirdeba arsebul monacemebze daayrdnobiT, raTa

asaxos mimdinare pirobebis gavlena, xolo is garemoebebi, romlebic amJamad aRar arsebobs, ar aris

gaTvaliswinebuli. samomavlo fuladi nakadebis savaraudo cvlilebebi asaxavs da Seesabameba imgvar

monacemebs, rogorebicaa umuSevrobis ganakveTi, uZravi qonebis fasi, saqonlis fasi, gadaxdisunarianoba

da sxva. samomavlo fuladi nakadebis gansazRvris mizniT gamoyenebuli Sefasebis meTodologiisa da

daSvebebis gadaxedva xdeba regularulad, gansazRvrul da realur zarals Soris sxvaobis Semcirebis

mizniT.

dafarvis vadamde flobili finansuri investiciebi

dafarvis vadamde flobili investiciebisaTvis, banki individualurad afasebs arsebobs Tu ara

gaufasurebis obieqturi safuZveli. Tu arsebobs gaufasurebis zaralis warmoSobis obieqturi

safuZveli, zaralis Tanxa aRiricxeba rogorc sxvaoba aqtivis sabalanso Rirebulebasa da samomavlo

fuladi nakadebis mimdinare Rirebulebas Soris. aqtivis sabalanso Rirebuleba mcirdeba da zaralis

Tanxa aRiardeba mogeba-zaralis angariSgebaSi.

Tu samomavlod savaraudo gaufasurebis moculoba mcirdeba gaufasurebis aRiarebis Semdgomi movlenis

gamo, uwin daricxuli nebismieri Tanxa kreditdeba mogeba-zaralis angariSgebaSi.

restruqturizebuli sesxebi

banki axdens sesxebis restruqturizacias Sesabamis SemTxvevaSi. aRniSnuli SesaZloa moicavdes

dafarvebis grafikisa da sesxis pirobebis Secvlas. xelmZRvaneloba mudmivad axdens xelaxla

SeTanxmebuli sesxebis gadaxedvas, raTa darwmundes, rom yvela kriteriumi dakmayofilebulia da

samomavlo dafarvebi savaraudoa. sesxebi gaufasurebasTan mimarTebaSi kvlavac individualurad an

koleqtiurad fasdeba sesxis sawyisi efeqturi saprocento ganakveTis gamoyenebiT.

finansuri aqtivebisa da valdebulebebis aRiarebis Sewyveta

finansuri aqtivebi

finansuri aqtivis (an, sadac misaRebia, finansuri aqtivis nawilis an analogiuri finansuri aqtivebis

jgufis nawilis) aRiarebis Sewyveta xdeba Tu:

amoiwura aqtivis mier fuladi saxsrebis Semotanis vada;

bankma gadasca aqtivis mier fuladi saxsrebis Semotanis ufleba, an daitova amgvari ufleba,

magram aiRo Tanxebis srulad da dagvianebis gareSe mesame pirebisaTvis gadaxdis

saxelSekrulebo valdebuleba; da

bankis mier (a) gadacemul iqna aqtivTan dakavSirebuli yvela riski da sargebeli; (b) bankis

mier gadacemul iqna aqtivze kontroli.

im SemTxvevaSi, rodesac bankis mier gadacemul iqna aqtividan Tanxis miRebis ufleba da ar momxdara

riskebisa da sargeblis gadacema Tu aqtivze kontrolis gadacema, bankis mier aqtivis aRiareba xdeba

uwyveti gamoyenebis pirobiT. uwyveti gamoyeneba, romelsac gaaCnia gadacemul aqtivze erTgvari

garantiis forma, aisaxeba aqtivis umciresi sabalanso RirebulebiT da im maqsimaluri Tanxis

gaTvaliswinebiT, romlis gadaxdac SesaZloa dasWirdes banks.

rodesac uwyveti gamoyeneba miiRebs gadacemul aqtivze werilobiTi da/an SeZenili ofcionis formas

(fuladi ofcionebis an msgavsi sakontraqto pirobebis saxiT), bankis CarTulobis xarisxi warmoadgens

im gadacemuli aqtivis Tanxas, romliTac SesaZlebelia aqtivis gamosyidva. Tumca, im SemTxvevaSi,

rodesac arsebobs werilobiTi miwodebis ofcioni (fuladi ofcionebis an msgavsi sakontraqto

pirobebis saxiT) samarTliani RirebulebiT asaxul aqtivze, bankis CarTulobis xarisxi Semoifargleba

gadacemuli aqtivebis samarTlian Rirebulebasa da ofcionis mimdinare sabazro Rirebulebas Soris

umciresiT.



nasesxebi saxsrebi

finansuri aqtivebis gaufasureba




aramaterialuri aqtivebi

anaricxebi


bankis mier gamoSvebuli sadepozito serTifikatebi

gadasaxadebi

sapensio da sxva valdebulebebi TanamSromelTa mimarT


finansuri aqtivebisa da valdebulebebis aRiarebis Sewyveta (gagrZeleba)

finansuri valdebulebebi

finansuri valdebulebebis aRiarebis Sewyveta xdeba maSin, rodesac valdebulebebi aqtivTan

mimarTebaSi baTildeba an amoiwureba.

rodesac arsebul finansur valdebulebas cvlis meore, imave kreditorTan, Tumca sxva pirobebiT, an

Tu mimdinare valdebulebis pirobebi mniSvnelovnad icvleba, amgvari cvlileba Tu modifikacia

gulisxmobs sawyisi valdebulebis aRiarebis Sewyvetas da axali valdebulebis asaxvas, xolo

Sesabamisi sabalanso Rirebulebis sxvaoba aisaxeba mogeba-zaralis angariSgebaSi.

ZiriTadi saSualebebi

ZiriTadi saSualebebi aRricxulia sabalanso RirebulebiT, romelic Semcirebulia akumulirebuli

cveTiT da akumulirebuli gaufasurebiT. mSenebare aqtivebsa da im aqtivebs, romlebic ar aris

momsaxurebaSi, cveTa ericxeba im droidan, rodesac aqtivi mzad aris gamoyenebisaTvis.

ZiriTadi saSualebebis sabalanso Rirebulebis gadaxedva xdeba gadafasebasTan mimarTebaSi, rodesac

movlenebi an garemoebaTa cvlilebebi mianiSneben, rom sabalanso Rirebulebis aRdgena SesaZloa ver

moxerxdes.

aqtivebis cveTa iricxeba im TariRidan, rodesac aqtivi mzad aris gamoyenebisaTvis. cveTis daricxva

xdeba wrfivi meTodiT, ZiriTadi saSualebebis sasargeblo momsaxurebis vadis ganmavlobaSi Semdegi

ganakveTebis gamoyenebiT:

%

Senoba-nagebobebi 2

aveji da mowyobilobebi 10-20

satransporto

saSualebebi

20

SekeTeba-ganaxlebasTan dakavSirebuli xarjebi aRiardeba warmoSobisTanave da maTi CarTva xdeba sxva

saoperacio xarjebSi Tu ar arsebobs maTi kapitalizaciis safuZveli.

gasayidad gankuTvnili aqtivebi

ZiriTadi saSualebebi klasificirebulia gasayidad gamiznulad, Tu maTi sabalanso Rirebulebis

aRdgena SesaZlebelia gayidvis garigebiT da ara uwyveti gamoyenebis gziT. amisaTvis, aqtivis gayidva

myisierad unda iyos SesaZlebeli mimdinare mdgomareobaSi, im pirobebiT, romlebic Cveulebriv gvxvdeba

amgvari aqtivebis gayidvisas, agreTve unda arsebobdes maTi realizaciis maRali albaToba.

realizaciis maRal albaTobad miiCneva garemoeba, rodesac bankis xelmZRvaneloba gegmavs aramimdinare

aqtivis gayidvas da atarebs moqmedebebs am gegmis dasasruleblad. garda amisa am gayidvis aRiareba

dasrulebul gayidvad SesaZlebeli unda iyos gasayidad gamiznulad klasificirebis dRidan erTi wlis

ganmavlobaSi.

gasayidad gamiznuli ZiriTadi saSualebebi Sefaseba xorcieldeba sabalanso Rirebulebasa da realur

Rirebulebas (minus gayidvis safasuri) Soris umciresiT. Tu gasayidad gamiznuli aqtivis realuri

Rirebuleba gayidvasTan dakavSirebuli xarjebis gamoklebiT ufro naklebia mis sabalanso

Rirebulebaze, xdeba gaufasurebis zaralis aRiareba mogeba-zaralis angariSgebaSi rogorc gasayidad

gamiznuli ZiriTadi saSualebebidan miRebuli zarali. aqtivis realuri Rirebulebis, gayidvasTan

dakavSirebuli xarjebis gamoklebiT nebismieri Semdgomi zrda aRiricxeba dagrovili gaufasurebis

zaralis moculobiT, romlis aRiarebac wina periodSi moxda am konkretul aqtivTan mimarTebaSi.





aramaterialuri aqtivebi

aramaterialuri aqtivebi moicavs programul uzrunvelyofas.

aramaterialuri aqtivi aRiricxeba individualurad da fasdeba Tavdapirveli TviTRirebulebiT.

Tavdapirveli aRiarebis Semdgom, aramaterialuri aqtivebi aRiricxeba TviTRirebulebiT, rasac akldeba

akumulirebuli amortizacia da akumulirebuli gaufasurebis zarali. aramaterialuri aqtivebis

sasargeblo momsaxurebis xangrZlivoba Sefasebulia gansazRvruli Tu ganusazRvreli vadiT. vadiani

aramaterialuri aqtivebi amortizebulia sasargeblo momsaxurebis xangrZlivobis - 5 wlis

ganmavlobaSi da maTi Sefaseba gaufasurebasTan mimarTebaSi xdeba gaufasurebis indikaciis arsebobisas.

ganusazRvreli sasargeblo momsaxurebis xangrZlivobis mqone aramaterialuri aqtivebis amortizacia

ar xdeba, aramed xdeba maTi yovelwliuri Semowmeba gaufasurebasTan mimarTebaSi, individualurad Tu

fuladi saxsrebis gamommuSavebeli biznes erTeulis doneze. amgvari aramaterialuri aqtivis

sasargeblo momsaxurebis xangrZlivobis gadaxedva xdeba yovelwliurad.

anaricxebi

anaricxebis aRiareba xdeba maSin, rodesac banks gaaCnia warsuli movlenidan gamomdinare mimdinare

iuridiuli an savaraudo valdebuleba da mosalodnelia ekonomikuri sargeblis momtani resursebis

gadineba valdebulebis dasafarad, agreTve SesaZlebelia valdebulebis Tanxis sarwmunod gansazRvra.


mimoqcevaSi gaSvebuli fuli warmoadgens bankis mier kanonisa da centraluri bankis funqciis

farglebSi gamoSvebul banknotebsa da monetebs. aRniSnuli aRricxulia sabalanso angariSgebaSi

nominaluri RirebulebiT da ganaSTulia naRd fulTan salaroSi.

fulis gamoSvebasTan dakavSirebuli xarji aRiricxeba warmoSobisas.

rodesac komerciuli bankebi ubruneben banks banknotebs, xdeba maTi mimoqcevidan amoReba da maTi

mdgomareobidan an statusidan gamomdinare, xdeba maTi an ganadgureba an bankis sarezervo fondebSi

Senaxva.

bankis mier gamoSvebuli sadepozito serTifikatebi

bankis mier gamoSvebuli sadepozito serTifikatebi warmoadgens diskontur fasian qaRaldebs,

romlebic sabalanso angariSgebaSi aRricxulia angariSsworebis TariRiT gasayidi fasiT, rac

warmoadgens maT realur Rirebulebas. Tavdapirveli aRiarebis Semdgom, sadepozito serTifikatebi

Sefasebulia amortizirebuli RirebulebiT, efeqturi saprocento ganakveTis meTodis gamoyenebiT.

gadasaxadebi

erovnuli banki, misi aqtivebi, qoneba da Semosavali, agreTve mis mier ganxorcielebuli saqmianoba da

operaciebi Tavisufldeba yovelgvari gadasaxadisagan, gadasaxdelisa da mosakreblisagan. bankze

vrceldeba mxolod sagadasaxado agentis movaleobebi.

sapensio da sxva valdebulebebi TanamSromelTa mimarT

banks gaaCnia saxelmwifo sapensio sqemisgan damoukidebeli sapensio sqema. bankis gansazRvruli

Senatanis mqone sapensio sqema moicavs ZiriTadad srul ganakveTze myof TanamSromlebs. banki agrovebs

Senatanebs misi TanamSromlebisgan. rodesac TanamSromeli miaRwevs sapensio asaks, xdeba dagrovili

Senatanebis TanamSromlisTvis gadaxda masTanve SeTanxmebuli ganrigis Sesabamisad.



finansuri aqtivebisa da valdebulebebis aRiarebis Sewyveta (gagrZeleba)

ZiriTadi saSualebebi

%

gasayidad gankuTvnili aqtivebi




ucxouri valutis konvertacia

2008 2007

2009


saerTaSoriso savaluto fondisa da sxva saerTaSoriso safinanso dawesebulebebis wevroba

kanonis me-5 muxlis Sesabamisad, banki moqmedebs rogorc saqarTvelos mTavrobis Suamavali

saerTaSoriso safinanso dawesebulebebSi (saerTaSoriso savaluto fondi, msoflio banki)

saqarTvelos wevrobasTan dakavSirebul operaciebTan mimarTebaSi, rac aseve moicavs am

organizaciebisTvis gadaxdil sawevros.

saerTaSoriso savaluto fondi warmoadgens saerTaSoriso organizacias, romelic Seqmnilia

saerTaSoriso savaluto urTierTobebis, gacvliTi kursis stabilurobisa da regularuli gacvliTi

operaciebis xelSewyobis mizniT; ekonomikuri ganviTarebis da dasaqmebis donis amaRlebisaTvis da

sxvadasxva qveynebis droebiTi finansuri xelSewyobisaTvis. kvota, anu sawevro Senatanebi warmoadgens

saerTaSoriso savaluto fondis resursebis ZiriTad wyaros. saerTaSoriso savaluto fondi resursebs

wevri qveynebisgan iRebs. TiToeuli qveynis Senatani ganisazRvreba qveynis ekonomikuri donis

gaTvaliswinebiT da mxedvelobaSi miiReba msgavsi qveynebis Senatanebi. wevris Senatani asaxavs mis

saerTaSoriso savaluto fondTan finansuri da organizaciuli urTierTobis ZiriTad aspeqtebs.

saerTaSoriso savaluto fondisaTvis gadaxdili sawevro denominirebulia SDR-Si da gadafasebulia

larSi saerTaSoriso savaluto fondis mier saerTaSoriso savaluto fondis finansuri wlis bolos

dawesebuli savaluto gacvliTi kursiT. kvota da saqarTvelos finansTa saministros mier

saerTaSoriso savaluto fondis kvotasTan mimarTebaSi gamoSvebuli fasiani qaRaldi ar arian

warmodgenili sabalanso angariSgebaSi, radgan isini ar warmoadgens bankis aqtivebsa da

valdebulebebs, Tumca gaTvaliswinebulia rogorc garebalansuri da Sesabamisad ganmartebulia

finansuri angariSgebis me-7-e SeniSvnaSi.

pirobiTi valdebulebebi

pirobiTi valdebulebebi ar aris aRiarebuli sabalanso angariSgebaSi, magram gamJRavnebulia im

SemTxvevebis garda, rodesac dafarva ar aris mosalodneli axlo periodSi. pirobiTi aqtivebi ar aris

aRiarebuli sabalanso angariSgebaSi, Tumca gamJRavnebulia maSin, rodesac ekonomikuri sargeblis

miReba aris mosalodneli.

Semosavlisa da xarjis aRiareba

Semosavlis aRiareba xdeba imdenad, ramdenadac didia albaToba imisa, rom banki miiRebs ekonomikur

Semosavals, romlis gazomva iqneba realurad SesaZlebeli. vidre moxdebodes Semosavlis aRiareba unda

dakmayofildes Semdegi konkretuli kriteriumebi:

procenti da msgavsi Semosavali da xarji

amortizebuli RirebulebiT aRricxuli yvela finansuri instrumentisaTvis da savaWrod gamiznulad

klasificirebuli saprocento sargeblis mqone fasiani qaRaldebisaTvis, saprocento Semosavali da

xarji aRiricxeba efeqturi saprocento ganakveTiT, romliTac xdeba mosalodneli samomavlo

gadaxdebis/Semosavlis zusti diskontireba finansuri aqtivis an valdebulebis wminda sabalanso

Rirebulebaze finansuri instrumentis sasargeblo momsaxurebis xangrZlivobis an ufro mokle

periodSi. gaangariSeba iTvaliswinebs finansuri instrumentis sakontraqto pirobebs (magaliTad

winaswari gadaxdis ofcioni) da moicavs nebismier gasamrjelos an damatebiT xarjs, romelic pirdapir

ganekuTvneba instruments da warmoadgens efeqturi saprocento ganakveTis ganuyofel nawils, Tumca ar

warmoadgens samomavlo sakredito zarals. finansuri aqtivisa Tu finansuri valdebulebis sabalanso

Rirebuleba koreqtirebulia, Tu banki gadaxedavs mis mier savaraudod dasafar an misaReb Tanxebs.

koreqtirebuli sabalanso Rirebuleba gamoiTvleba Tavdapirvel efeqtur saprocento ganakveTze

dayrdnobiT da sabalanso Rirebulebis cvlileba aRiricxeba rogorc saprocento Semosavali an xarji.

rodesac finansuri aqtivis an msgavsi aqtivebis jgufis Rirebuleba mcirdeba gaufasurebis zaralis gamo,

saprocento Semosavlis aRiareba grZeldeba Tavdapirveli efeqturi saprocento ganakveTis gamoyenebiT,

romelic miesadageba axal sabalanso Rirebulebas.

Semosavali da xarji gasamrjelodan da sakomisiodan

banki gamoimuSavebs gasamrjelo da sakomisio klientebisaTvis gaweuli sxvadasva saxis momsaxurebidan.

gasamrjelo da sakomisio Semosavali moicavs sakaso operaciebisa da klientebis momsaxurebis

sakomisios, rac aRiarebulia Semosavlad momsaxurebis gawevisas. gasamrjelo da sakomisio xarji

Sedgeba sakaso operaciebisa da angariSsworebis sakomisiosagan.





ucxouri valutis konvertacia

finansuri angariSgeba warmodgenilia larSi, rac bankis funqcionalur valutas warmoadgens. ucxour

valutaSi ganxorcielebuli operaciebi warmodgenilia funqcionalur valutaSi, romlis konvertacia

xdeba operaciis dRes arsebuli kursiT. ucxour valutaSi arsebuli fuladi aqtivebisa da

valdebulebebis larSi konvertacia xdeba gacvliTi kursiT balansis Sedgenis dRes. ucxour valutaSi

ganxorcielebuli operaciebis konvertaciiT gamowveuli mogeba-zarali aRiarebulia mogeba-zaralis

angariSgebaSi rogorc ucxouri valutis konvertaciiT gamowveul mogebas gamoklebuli zarali –

sakurso sxvaoba. arafuladi saSualebebis konvertacia, romlebic istoriuli Rirebulebis dadgenis

mizniT izomeba ucxour valutaSi, xdeba Tavdapirveli operaciis dRes arsebuli gacvliTi kursiT.

arafuladi saSualebebi, romlebic izomeba ucxour valutaSi samarTliani RirebulebiT, konvertirdeba

im dRis gacvliTi kursiT, roca moxda samarTliani Rirebulebis dadgena.

sxvaobebi ucxour valutaSi ganxorcielebuli operaciis sakontraqto gacvliT kurssa da operaciis

dRes bankis gacvliT kurss Soris CarTulia ucxour valutaSi ganxorcielebuli operaciebidan

miRebul mogebas minus zaralis muxlSi.

winamdebare finansuri angariSgebis momzadebis mizniT, 2008 wlis 31 dekembris mdgomareobiT banki

iyenebda Semdeg oficialur gacvliT kursebs:

2008 2007

1 aSS dolari 1.6670 lari 1.5916 lari

1 evro 2.3648 lari 2.3315 lari

1 funti sterlingi 2.4240 lari 3.1762 lari

1 SDR 2.5676 lari 2.5123 lari

ucxouri valutis gacvliTi kursebi finansuri angariSgebis gamoSvebis TariRiT Semdegia:

2009 wlis 29 aprili

1 aSS dolari 1.6500 lari

1 evro 2.1490 lari

1 funti sterlingi 2.3996 lari

1 SDR 2.4554 lari



saerTaSoriso savaluto fondisa da sxva saerTaSoriso safinanso dawesebulebebis wevroba

pirobiTi valdebulebebi

Semosavlisa da xarjis aRiareba



4. mniSvnelovani buRaltruli Sefasebebi da daSvebebi

Sefasebis ganusazRvreloba

5. fuli da fuladi ekvivalentebi

2008 2007

fuli da fuladi ekvivalentebi 1,434,590 1,145,318

6. moTxovnebi ararezidenti sakredito dawesebulebebis mimarT

2008 2007

moTxovnebi ararezidenti sakredito dawesebulebebis mimarT 40,947 141,537


standartebi da interpretaciebi, romlebic gamoqveynda, magram ZalaSi jer ar Sesula

finansuri angariSgebis gamoSvebis TariRisaTvis, rigi axali standartebi, interpretaciebi da

mimdinare standartebis cvlilebebi gamoqveynda, romlebic am saangariSgebo periodisTvis ZalaSi ar

Sesula da banks ar miuRia:

fass-is gaumjobesebebi

2008 wlis maisSi, bass-m wliuri gaumjobesebis proeqtidan gamomdinare gamosca fass-s cvlilebebi.

aRniSnuli moicavs buRaltruli aRricxvis cvlilebebs wardgenasTan, aRiarebasa da SefasebasTan

mimarTebaSi. aRniSnuli aseve moicavs terminologiisa da saredaqcio cvlilebebs rig fass

standartebTan mimarTebaSi. cvlilebebis umetesoba ZalaSia 2009 wlis 1 ianvars dawyebuli wliuri

periodebisaTvis, Tumca, nebadarTulia ufro adreuli miRebac. banki amJamad afasebs, Tu potenciurad

ra gavlena eqneba cvlilebebis miRebas mis finansur angariSgebaze.

bass 23 “sesxiT sargeblobasTan dakavSirebuli xarjebi”(koreqtirebuli)

koreqtirebuli bass 23 – “sesxiT sargeblobasTan dakavSirebuli xarjebi”, gamocemul iqna 2007 wlis

martis TveSi da ZalaSi Sedis 2009 wlis 1 ianvars dawyebuli fiskaluri periodebisaTvis. standartis

koreqtireba moxda sesxiT sargeblobasTan dakavSirebuli xarjebis kapitalizaciis moTxovnis mizniT,

rodesac amgvari xarjebi dakavSirebulia gansakuTrebul aqtivTan. gansakuTrebuli aqtivi iseTi aqtivia,

romlis daniSnulebisamebr gamosayeneblad an gasayidad momzadebisaTvis saWiroa drois mniSvnelovani

periodi. standartis gardamavali moTxovnebis Sesabamisad, banki aRniSnul standarts miiRebs

samomavlo cvlilebis saxiT. Sesabamisad, sesxiT sargeblobasTan dakavSirebuli xarjebi

kapitalizirdeba gansakuTrebul aqtivebze 2009 wlis 1 ianvris Semdgomi TariRiT. aRniSnul TariRamde

sesxiT sargeblobasTan dakavSirebul xarjebSi, romlebic xarjebis muxlSia Sesuli, cvlilebebi ar

Seva.




a



is





buRaltruli aRricxvis politikis gatarebisas, finansur angariSgebaSi asaxuli Tanxebis dasadgenad,

bankis xelmZRvanelobam gamoiyena Tavisi Sefasebebi da daSvebebi. maT Soris yvelaze ufro

mniSvnelovani ixileT qvemoT:

sesxis gaufasurebis rezervi

bankis mier regularulad xdeba sesxebisa da moTxovnebis gadaxedva gaufasurebasTan mimarTebaSi.

nebismieri gaufasurebis zaralis gansazRvris mizniT banki iyenebs sakuTar gamocdilebaze dafuZnebul

Sefasebebs im SemTxvevebSi, rodesac msesxebels gaaCnia finansuri sirTuleebi da moipoveba istoriuli

monacemebi analogiur msesxeblebTan mimarTebaSi. Sesabamisad, banki afasebs samomavlo fuladi

nakadebis cvlilebas, eyrdnoba ra monacemebs, romelTa mixedviTac SesaZloa adgilobrivi ekonomikuri

mdgomareobisa da dafarvebis statusis gauareseba. xelmZRvaneloba iyenebs Sefasebebs istoriuli

zaralis gamocdilebaze da sakredito riskis maxasiaTeblebze dayrdnobiT da obieqtur safuZvels

analogiuri sesxebisa da moTxovnebis, an maTi jgufis gaufasurebasTan mimarTebaSi. banki eyrdnoba

sakuTar Sefasebebs sesxebisa Tu moTxovnebis saTanado monacemebis koreqtirebisaTvis mimdinare

movlenebis aRricxvis mizniT.

dafarvis vadamde flobili investiciebis gaufasureba

banki flobs investiciebs sasesxo fasiani qaRaldebis saxiT, maTi CaTvliT, romlebic ar gvxvdeba

aqtiur bazarze. sabazro pirobebis samomavlo uaryofiTma cvlilebebma an dabalma saoperacio

Sedegebma SesaZloa gamoiwvios zarali, romelic ar aisaxeba investiciebis mimdinare sabalanso

Rirebulebaze da Sesabamisad, momavalSi saWiro gaxdeba gaufasurebis daricxva. banki regularulad

axdens investiciebis gadaxedvas gaufasurebis indikaciis gamosavlenad. aRniSnuli mimoxilva moiTxovs

samomavlo movlenebis Sedegebis daSvebas da imis gansazRvras, arsebobs Tu ara faqtorebi, romlebic

miuTiTebs gaufasurebaze.


2008 2007

naRdi fuli ucxour valutaSi 248,699 26,970

mimdinare angariSebi 115,320 8,708

sakredito dawesebulebebSi ganTavsebuli 90 dRemde vadis mqone

depozitebi 1,070,571 1,109,640


2008 wlis 31 dekembris mdgomareobiT 565,156 lari (2007: 474,918 lari) ganTavsebuli iyo xuT (2007: xuTi)

saerTaSorisod aRiarebuli ekonomikuri ganviTarebisa da TanamSromlobis organizaciis (egTo)

komerciul da centralur bankebSi mimdinare angariSebsa da 90 dRemde vadis mqone depozitebze.

2008 wlis 31 dekembris mdgomareobiT 90 dRemde vadis mqone depozitebis wliuri saprocento ganakveTis

diapazoni iyo 0.10%-7.90% (2007: 4.25% - 5.36%).


2008 2007

akreditivebTan dakavSirebiT ganTavsebuli SezRuduli depozitebi 40,947 81,924

sakredito dawesebulebebSi ganTavsebuli 90 dReze meti vadis

mqone depozitebi - 59,613


2007 wlis 31 dekembris mdgomareobiT 90 dReze meti vadis mqone depozitebis wliuri saprocento

ganakveTis diapazoni iyo 3.5%-5.4%.

2008 wlis 31 dekembris mdgomareobiT arsebuli SezRuduli depozitebi ukavSirdeba samTavrobo

akreditivebs da ericxeba wliuri 0.021% evroSi denominirebul depozitebze da 0% aSS dolarSi

denominirebul depozitebze. SezRuduli depozitebi xelmisawvdomi gaxdeba 2009 wlis bolosTvis.








2008 2007



2008 2007





2008 2007



2008 2007



7. saerTaSoriso savaluto fondTan dakavSirebuli naSTebi (gagrZeleba)

7. saerTaSoriso savaluto fondTan dakavSirebuli naSTebi

2008 2007

aqtivebi

SDR-is angariSi saerTaSoriso savaluto fondSi 20,515 23,533

valdebulebebi

angariSi # 1 892 968

angariSi # 2 24 25

saerTaSoriso savaluto fondis mimdinare angariSebi 916 993

saerTaSoriso savaluto fondisgan miRebuli saxsrebi:

siRaribis daZleva da ekonomikuri zrda (PRGF) 350,986 399,907

sTend-bai SeTanxmeba (SBA) 411,887 -

sul saerTaSoriso savaluto fondisgan miRebuli saxsrebi 762,873 399,907

valdebulebebi saerTaSoriso savaluto fondis mimarT 763,789 400,900

garebalansuri naSTebi

saerTaSoriso savaluto fondis kvota (sawevro Senatani) 357,188 385,915

saerTaSoriso savaluto fondis kvotisa da saerTaSoriso

savaluto fondisgan miRebuli saxsrebis uzrunvelsayofad

flobili fasiani qaRaldi (739,762) (385,915 )

SDR-is angariSi saerTaSoriso savaluto fondSi

SDR-is angariSi warmoadgens bankis mimdinare angariSs saerTaSoriso savaluto fondSi, romelic

gamoiyeneba sesxebTan dakavSirebuli operaciebisa da saerTaSoriso savaluto fondTan

angariSsworebisaTvis. SDR-is angariSze daricxuli procentis gaangariSeba xdeba saerTaSoriso

savaluto fondis mier yovel kvireulad dadgenili ganakveTiT, romelic efuZneba ZiriTad fulad

bazrebze arsebul moklevadian sabazro ganakveTebs. 2008 wlis ganmavlobaSi saSualo wliurma

saprocento ganakveTma Seadgina 2.56% (2007: 4.07%).

saerTaSoriso savaluto fondis mimdinare angariSebi

banks moeTxoveba ori saerTaSoriso savaluto fondis angariSis arseboba: #1 da #2 mimdinare angariSi.

angariSi #1 gamoiyeneba saerTaSoriso savaluto fondTan saoperacio angariSsworebisaTvis, maSin

rodesac angariSi #2 gamoiyeneba saerTaSoriso savaluto fondTan mimarTebaSi larSi warmoSobili

saoperacio xarjebis dasafarad.

saerTaSori savaluto fondidan miRebuli saxsrebi

saerTaSoriso savaluto fondidan miRebuli saxsrebi warmoadgens 0..5% wliuri saprocento ganakveTis

mqone aTwlian PRGF sesxs, romelic miRebul iqna siRaribis daZlevisa da makroek nomikuri

stabilurobis xelSewyobisaTvis, da cvalebadi wliuri saprocento ganakveTis mqone oTxwlian sTend-

bai SeTanxmebas, romelic miRebul iqna saerTaSoriso rezervebis aRsadgenad da investorTa ndobis

gasamyareblad. sTend-bai SeTanxmebis wliuri saprocento ganakveTis diapazoni 2008 wels iyo 1.84%-3.63%

(2007: 4.65%-5.66%). 2008 wlis 31 dekembris mdgomareobiT saerTaSoriso savaluto fondidan miRebuli

saxsrebis struqtura 2007 wlis bolosTan SedarebiT gansxvavebulia, radgan 2008 wlis seqtemberSi

saqarTvelos mTavrobam saerTaSoriso savaluto fondidan miiRo sTend-bai SeTanxmeba, romlis

dafarva SeTanxmebisamebr daiwyeba 2010 wels. saerTaSoriso savaluto fondis mier gamoyofili

saxsrebi denominirebulia SDR-Si. PRGF sesxi srulad daifareba 2017 wlisTvis, xolo sTend-bai

SeTanxmeba 2012 wlisTvis.




7. saerTaSoriso savaluto fondTan dakavSirebuli naSTebi (gagrZeleba)

saerTaSoriso savaluto fondis kvota

saerTaSoriso savaluto fondis kvota 150.3 milioni SDR–is odenobiT warmoadgens saqarTvelos

sawevro Senatans saerTaSoriso savaluto fondSi da mas ar ericxeba saprocento ganakveTi.

saerTaSoriso savaluto fondis kvotisa da saerTaSoriso savaluto fondisgan miRebuli saxsrebis

uzrunvelsayofad flobili fasiani qaRaldi

fasiani qaRaldi Sedgeba saerTaSoriso savaluto fondis kvotis uzrunvelsayofad flobili 357,188

larisa da saerTaSoriso savaluto fondisgan miRebuli saxsrebis uzrunvelsayofad flobili 382,574

larisagan. fasiani qaRaldi saqarTvelos mTavrobis mier gamoSvebul iqna 1992 wels saerTaSoriso

savaluto fondis kvotasTan mimarTebaSi. fasiani qaRaldis nominaluri Rirebuleba icvleba

yovelwliuri gadafasebisas da bankis mier saerTaSoriso savaluto fondis saerTo resursebis

angariSidan saxsrebis miRebisas. fasian qaRalds banki flobs Senaxvis mizniT, Sedegad misi aRricxva

xdeba garebalansur angariSze da warmodgenilia nominaluri RirebulebiT.

7. saerTaSoriso savaluto fondTan dakavSirebuli naSTebi

2008 2007

aqtivebi

valdebulebebi

sul saerTaSoriso savaluto fondisgan miRebuli saxsrebi

valdebulebebi saerTaSoriso savaluto fondis mimarT 763,789 400,900

garebalansuri naSTebi




9. adgilobrivi komerciul bankebze gacemuli sesxebi

2008 2007

adgilobrivi komerciuli bankebisTvis gacemuli sesxebi 209,412 73,132


10. dafarvis vadamde flobili fasiani qaRaldebi

2008 2007

sabalanso

Rirebuleba

nominaluri

Rirebuleba

sabalanso

Rirebuleba nominaluri

Rirebuleba

dafarvis vadamde flobili fasiani

qaRaldebi ucxour valutaSi

safinanso institutebis savalo fasiani

qaRaldebi


qaRaldebi erovnul valutaSi

sul dafarvis vadamde flobili fasiani

a a bi 756,853 755,526 892,994 891,189

2008 2007

% vadianoba % vadianoba

8. gasayidad arsebuli fasiani qaRaldebi

2008 2007

saxelmwifo savalo fasiani qaRaldebi:

safrangeTis mTavrobis obligaciebi 423,985 32,537

belgiis saxazino valdebulebebi 47,252 194,057

daniis saxazino valdebulebebi 35,294 -

portugaliis saxazino valdebulebebi 35,000 --

amerikis saxazino valdebulebebi 29,304 72,598

germaniis mTavrobis obligaciebi - 92,220

570,835 391,412

safinanso institutebis savalo fasiani qaRaldebi:

saerTaSoriso angariSsworebis banki 371,654 392,278

sul gasayidad arsebuli fasiani qaRaldebi ucxour valutaSi 942,489 783,690


saqarTvelos mTavrobis obligaciebi 93,960 39,664

wilobriv instrumentebSi investiciebi:

Tbilisis bankTaSorisi savaluto birJis aqciebi 40 40

sul gasayidad arsebuli fasiani qaRaldebi erovnul valutaSi 94,000 39,704

sul gasayidad arsebuli fasiani qaRaldebi 1,036,489 823,394

2008 2007

wliuri saprocento

ganakveTi vadianoba

wliuri saprocento

ganakveTi vadianoba

safrangeTis mTavrobis obligaciebi 1.77% - 2009 3.82% - 3.90% 2008

sxva ucxouri saxelmwifo savalo

fasiani qaRaldebi

2.02% -

4.12% 2009 3.88% - 4.10% 2008

amerikis saxazino valdebulebebi 3.10% - 2009-2013 3.10% - 4.90% 2008-2013

saerTaSoriso angariSsworebis banki 3.00% - 2009-2014 2.50% - 5.30% 2008-2013

saqarTvelos mTavrobis obligaciebi 13.00% 2009-2012 13.00% 2009-2011





2008 2007

erTdRiani sesxebi - 33,000

refinansirebis sesxebi 53,512 -

bolo instanciis sesxebi 155,900 40,132


minus - gaufasurebis rezervi - -


uzrunvelyofa

uzrunvelyofis tipi da moculoba damokidebulia kreditoris sakredito riskis Sefasebaze.

saxelmZRvanelo dokumentiT ganisazRvreba uzrunvelyofis tipi da Sefasebis parametrebi. bolo

instanciis sesxebze uzrunvelyofa ar moiTxoveba. saqarTvelos erovnuli banki kanonis Tanaxmad

flobs upirates uflebas movalis aqtivebTan mimarTebaSi.

uzrunvelyofis ZiriTad tipebs refinansirebis sesxebze warmoadgens sakorespondento angariSebze

ganTavsebuli fuladi saxsrebi da samTavrobo/erovnuli bankis savalo fasiani qaRaldebi.

menejmenti meTvalyureobas uwevs uzrunvelyofis sabazro Rirebulebas, moiTxovs damatebiT

uzrunvelyofas Tu es xelSekrulebiT aris gaTvaliswinebuli da meTvalyureobas uwevs im

uzrunvelyofas, romelic miRebul iqna sesxis gaufasurebis rezervis adekvaturobis gadaxedvisas.

adgilobriv komerciul bankebze gacemuli sesxebis naSTebis koncentracia

2008 wlis 31 dekembris mdgomareobiT saqarTvelos erovnul banks gacemuli hqonda 138,908 lari sam

umsxviles msesxebelze (sruli sakredito portfelis 66%) (2007: 70,134 lari gacemuli hqonda sam

umsxviles msesxebelze, romelic warmoadgenda sruli sakredito portfelis 96%-s).


2008 2007

sabalanso

Rirebuleba

nominaluri

Rirebuleba

sabalanso


Rirebuleba




qaRaldebi

saerTaSoriso angariSsworebis banki 66,057 66,680 154,212 154,343



saqarTvelos mTavrobis obligaciebi 690,796 688,846 738,782 736,846


qaRaldebi 756,853 755,526 892,994 891,189

aRniSnuli fasiani qaRaldebis nominaluri saprocento ganakveTebi da vadianoba aris Semdegi:

2008 2007


safinanso institutebis savalo

fasiani qaRaldebi 3.3% - 3.6% 2009-2010 3.0% - 5.0% 2008

saqarTvelos mTavrobis obligaciebi 6% 2009-2025 6% 2008-2025

dafarvis vadamde flobili fasiani qaRaldebi erovnul valutaSi warmoadgens saqarTvelos mTavrobasa

da banks Soris 2006 wlis martSi gaformebuli xelSekrulebis Tanaxmad saqarTvelos finansTa

saministros mier gamoSvebul fasian qaRaldebs, ris Sedegadac moxda samTavrobo sesxis savalo fasian

qaRaldad gadaqceva. gamoSvebuli saprocento ganakveTi eqvemdebareba yovelwliur gadaxedvas arsebuli

sabazro ganakveTebis gaTvaliswinebiT.


2008 2007




2008 2007

sabalanso

Rirebuleba

nominaluri

Rirebuleba

sabalanso


Rirebuleba




qaRaldebi




a a bi 756,853 755,526 892,994 891,189

2008 2007



2008 2007




2008 2007

sabalanso

Rirebuleba

nominaluri

Rirebuleba

sabalanso


Rirebuleba




qaRaldebi




a a bi 756,853 755,526 892,994 891,189

2008 2007


8. gasayidad arsebuli fasiani qaRaldebi

2008 2007


-

570,835 391,412

safinanso institutebis savalo fasiani qaRaldebi:

sul gasayidad arsebuli fasiani qaRaldebi ucxour valutaSi 942,489 783,690


wilobriv instrumentebSi investiciebi:

sul gasayidad arsebuli fasiani qaRaldebi erovnul valutaSi 94,000 39,704

sul gasayidad arsebuli fasiani qaRaldebi 1,036,489 823,394

2008 2007

wliuri saprocento

ganakveTi vadianoba

wliuri saprocento

ganakveTi vadianoba




12.PZiriTadi saSualebebi

Senoba

nagebobebi

aveji da

mowyobilobebi

daumTavrebeli

mSenebloba

ransporti

da sxva sul

Rirebuleba

2007 wlis 31 dekemberi 34,275 6,400 128 13,463 54,266

2008 wlis 31 dekemberi 18,670 6,270 128 13,131 38,199

dagrovili cveTa

2007 wlis 31 dekemberi (4,747) (4,686 - (10,126 (19,559)

2008 wlis 31 dekemberi (3,095) (5,066) - (11,011) (19,172)

wminda sabalanso

Rirebuleba:

2007 wlis 31 dekemberi 29,528 1,714 128 3,337 34,707

2008 is 31 mb ri 15,575 1,204 128 2,120 19,027

Senoba

nagebobebi

aveji da

mowyobilobebi

daumTavrebeli

mSenebloba

ransporti

da sxva sul

Rirebuleba

2006 wlis 31 dekemberi 35,511 6,872 438 13,016 55,837

2007 wlis 31 dekemberi 34,275 6,400 128 13,463 54,266

dagrovili cveTa

2006 wlis 31 dekemberi (4,370) (4,299 - (9,084 (17,753)

2007 wlis 31 dekemberi (4,747) (4,686 - (10,126 (19,559)

wminda sabalanso

Rirebuleba:

2006 wlis 31 dekemberi 31,141 2,573 438 3,932 38,084

2007 is 31 mb ri 29,528 1,714 128 3,337 34,707

11. gasayidad gankuTvnili ZiriTadi saSualebebi

2008 2007

sawyisi naSTi 865 728

zrda 16,175 797

gasvla (3,466) (660)

Sefasebis efeqti (2,314) -

saboloo naSTi 11,260 865

gasayidad gamiznuli ZiriTadi saSualebebis zrda ZiriTadad moicavs bankis mier 2008 wels daxuruli

filialebis Senobebs. bankma moaxdina aRniSnuli Senobebis gasayidad gankuTvnil ZiriTad saSualebebad

klasificireba, radgan isini aRar gamoiyeneba bankis saqmianobisTvis da maTi sabalanso Rirebulebis

amoReba moxdeba gayidvis garigebidan da ara grZelvadiani gamoyenebidan. 2,314 laris Sefasebis efeqti

gamowveulia gasayidad gankuTvnili ZiriTadi saSualebebis CamoweriT realur Rirebulebas

gamoklebuli gayidvis danaxarjebamde.




12.PZiriTadi saSualebebi

ZiriTadi saSualebebis moZraoba Semdegia:

Senoba

nagebobebi

aveji da

mowyobilobebi

daumTavrebeli

mSenebloba

transporti

da sxva sul

Rirebuleba

2007 wlis 31 dekemberi 34,275 6,400 128 13,463 54,266

zrda - 193 398 213 804

gasvla - (323) - (545) (868)

gasayidad

klasificirebuli

aqtivebi (16,003) - - - (16,003)

gadatana 398 - (398) - -

2008 wlis 31 dekemberi 18,670 6,270 128 13,131 38,199

dagrovili cveTa

2007 wlis 31 dekemberi (4,747) (4,686) - (10,126) (19,559)

wlis daricxva (537) (681) - (1,247) (2,465)

gasvla - 301 - 362 663

gasayidad

klasificirebuli

aqtivebi 2,189 - - - 2,189

2008 wlis 31 dekemberi (3,095) (5,066) - (11,011) (19,172)

wminda sabalanso

Rirebuleba:

2007 wlis 31 dekemberi 29,528 1,714 128 3,337 34,707

2008 wlis 31 dekemberi 15,575 1,204 128 2,120 19,027

Senoba

nagebobebi

aveji da

mowyobilobebi

daumTavrebeli

mSenebloba

transporti

da sxva sul

Rirebuleba

2006 wlis 31 dekemberi 35,511 6,872 438 13,016 55,837

zrda 179 31 7 843 1,060

gasvla (643) (503) (51) (438) (1,635)

gasayidad

klasificirebuli

aqtivebi

(996) - - - (996)

gadatana 224 - (266) 42 -

2007 wlis 31 dekemberi 34,275 6,400 128 13,463 54,266

dagrovili cveTa

2006 wlis 31 dekemberi (4,370) (4,299) - (9,084) (17,753)

wlis daricxva (694) (868) - (1,442) (3,004)

gasvla 118 481 - 400 999

gasayidad

klasificirebuli

aqtivebi

199 - - - 199

2007 wlis 31 dekemberi (4,747) (4,686) - (10,126) (19,559)

wminda sabalanso

Rirebuleba:

2006 wlis 31 dekemberi 31,141 2,573 438 3,932 38,084

2007 wlis 31 dekemberi 29,528 1,714 128 3,337 34,707

11. gasayidad gankuTvnili ZiriTadi saSualebebi

2008 2007

sawyisi naSTi

saboloo naSTi 11,260 865




14. mimoqcevaSi gaSvebuli fuli

2008 2007

naSTi 1 ianvris mdgomareobiT

naSTi 31 dekembris mdgomareobiT 1,290,703 1,310,488

15. valdebulebebi adgilobrivi sakredito dawesebulebebis mimarT

2008 2007


210,188 283,385


141,190 188,113

valdebulebebi adgilobrivi sakredito dawesebulebebis mimarT 351,378 471,498

16.Avaldebulebebi saqarTvelos finansTa saministros mimarT

2008 2007


16,342 9,518


863,629 440,613

valdebulebebi saqarTvelos finansTa saministros mimarT 879,971 450,131

13. sxva aqtivebi da valdebulebebi

sxva aqtivebi Sedgeba:

2008 2007

sxva aqtivebi ucxour valutaSi

winaswari gadaxdebi 572 3

sxva moTxovnebi 3 -

575 3

sxva aqtivebi erovnul valutaSi

TanamSromlebze gacemuli sesxebi 3,951 3,575

sainvesticio oqros monetebi 2,739 3,617

winaswari gadaxda 5 1,435

sxva moTxovnebi 50 34

6,745 8,661

minus – sxva aqtivebis gaufasurebis rezervi (1,691) (623)

sul sxva aqtivebi 5,054 8,038

sxva valdebulebebi Sedgeba:

2008 2007

sxva valdebulebebi ucxour valutaSi

valdebulebebi momwodeblebis winaSe 1,244 -

sxva valdebulebebi 199 18

1,443 18

sxva valdebulebebi erovnul valutaSi

sapensio sqemis valdebulebebi 2,759 4,158

gasacemi premiebi 1,485 -

sxva valdebulebebi 516 512

4,760 4,670

sul sxva valdebulebebi 6,203 4,688

2,759 laris sapensio sqemis valdebuleba 2008 wlis 31 dekembris mdgomareobiT (2007: 4,158 lari)

warmoadgens dadgenil Senatanian sapensio sqemasTan dakavSirebul valdebulebas. Senatanebs sapensio

sqemaSi yovelTviurad axorcielebs banki (TanamSromlis Tviuri Tanamdebobrivi sargos 13%) da

TanamSromeli (TanamSromlis Tviuri Tanamdebobrivi sargos 1%). TanamSromlis sapensio asakis

dadgomisas sapensio danagrovi gadaecema sqemis monawiles winaswar SeTanxmebuli grafikis mixedviT.

sxva aqtivebis gaufasurebis rezervis moZraoba aris Semdegi:

sxva aqtivebi

2006 wlis 31 dekemberi (231)

danaricxebi (400)

Camowera 8


danaricxebi (1,105)

Camowera 37

2008 wlis 31 dekemberi (1,691)

sxva aqtivebis gaufasurebis rezervi Seadgens TanamSromlebze gacemuli sesxebis gaufasurebis rezervs

da gamoiqviTeba Sesabamisi aqtivebis sabalanso Rirebulebidan.




14. mimoqcevaSi gaSvebuli fuli

mimoqcevaSi gaSvebuli fuli warmoadgens bankis mier gamoSvebul saqarTvelos erovnul valutas.

moZraoba mimoqcevaSi gaSvebuli fulis angariSze aris Semdegi:

2008 2007

naSTi 1 ianvris mdgomareobiT 1,310,488 929,634

mimoqcevaSi gaSvebuli banknotebi 955,540 966,391

mimoqcevaSi gaSvebuli monetebi 5,186 11,270

minus: naRdi fuli salaroSi erovnul valutaSi (13,282) (16,980)

mimoqcevidan amoRebuli banknotebi (963,863) (579,085)

mimoqcevidan amoRebuli monetebi (3,366) (742)

naSTi 31 dekembris mdgomareobiT 1,290,703 1,310,488

15. valdebulebebi adgilobrivi sakredito dawesebulebebis mimarT

2008 2007


sakorespondento angariSebi 88,952 6,118

minimaluri sarezervo moTxovna 121,236 277,267

210,188 283,385


sakorespondento angariSebi 141,190 186,943

minimaluri sarezervo moTxovna - 1,170

141,190 188,113

valdebulebebi adgilobrivi sakredito dawesebulebebis mimarT 351,378 471,498

mimdinare angariSebsa da minimalur sarezervo moTxovnebSi Sedis 185,506 laris (2007: 320,861 lari) sami

umsxvilesi adgilobrivi komerciuli bankis naSTebi. TiToeuli bankis naSTi aRemateba sakredito

dawesebulebebis mimarT valdebulebebis 10%-s.

minimaluri sarezervo moTxovna warmoadgens savaldebulo rezervebs, romelTa ganTavseba moeTxovebaT

sakredito dawesebulebebs saqarTvelos erovnul bankSi da gamoiTvleba sakredito dawesebulebis mier

moziduli saxsrebis 5%-is odenobiT. 2008 wlis dasawyisSi minimaluri sarezervo moTxovna

warmoadgenda sakredito dawesebulebis mier moziduli saxsrebis 13%-s. 2008 wlis 31 dekembris

mdgomareobiT wliuri saprocento ganakveTi aSS dolarSi denominirebul minimalur sarezervo

moTxovnebze Seadgenda 0%-s da evroSi denominirebul minimalur sarezervo moTxovnebze 2.25%-s.

16.Avaldebulebebi saqarTvelos finansTa saministros mimarT

2008 2007



SezRuduli Tanxebi akreditivebisTvis 1,058 2,717

16,342 9,518



SezRuduli Tanxebi akreditivebisTvis 39,865 81,028

863,629 440,613

valdebulebebi saqarTvelos finansTa saministros mimarT 879,971 450,131

13. sxva aqtivebi da valdebulebebi

sxva aqtivebi

2008 2007

sxva aqtivebi ucxour valutaSi

575 3

sxva aqtivebi erovnul valutaSi

6,745 8,661

sul sxva aqtivebi 5,054 8,038

sxva valdebulebebi

2008 2007

sxva valdebulebebi ucxour valutaSi

1,443 18

sxva valdebulebebi erovnul valutaSi

4,760 4,670

sul sxva valdebulebebi 6,203 4,688

sxva aqtivebi



2008 wlis 31 dekemberi (1,691)




19.Ekapitali

sarezervi

fondi

ucxouri

valutis

gadafasebis

rezervi

gasayidad

arsebuli

fasiani

qaRaldebis

gadafasebis

rezervi sul

2007 wlis 1 ianvari 56,081 - (143) 55,938

2007 wlis 31 dekemberi 60,692 - 9,558 70,250

2008 wlis 31 dekemberi 119,597 9,824 16,580 146,001

17. valdebulebebi sxva klientebis mimarT

2008 2007


valdebulebebi ucxouri safinanso dawesebulebebis mimarT - 4,232

- 4,232


saxelmwifo da sabiujeto organizaciebi 1,216 313

saerTaSoriso safinanso dawesebulebebi 3,161 2,868

sxva 169 12,025

4,546 15,206

valdebulebebi sxva klientebis mimarT 4,546 19,438

valdebulebebi saerTaSoriso safinanso dawesebulebebis mimarT 2008 wlis 31 dekembris mdgomareobiT

Seadgens rekonstruqciisa da ganviTarebis saerTaSoriso bankis 3,061 laris mimdinare angariSs (2007:

2,868 lari) da saerTaSoriso ganviTarebis asociaciis 100 laris mimdinare angariSs (2007: nuli).

18.DgamoSvebuli sadepozito serTifikatebi

wliuri saprocento

ganakveTi vadianoba

nominaluri

Rirebuleba

sabalanso

Rirebuleba

sadepozito serTifikatebi 2008 wlis 31

dekembris mdgomareobiT 10.99% -13%

8 ianvari – 26

marti, 2009

78,050

77,352

sadepozito serTifikatebi 2007 wlis 31

dekembris mdgomareobiT 7.98% - 13%

4 ianvari – 11

ivnisi, 2008

382,080

376,541




19.Ekapitali

kanonis Sesabamisad, bankis kapitali Sedgeba misi sawesdebo kapitalisa da sarezervo fondisagan.

sawesdebo kapitali

bankis sawesdebo da srulad ganaRdebuli kapitali Seadgens 15,000 lars.

sxva rezervebi

moZraoba sxva rezervebSi aris Semdegi:

sarezervi

fondi

ucxouri

valutis

gadafasebis

rezervi

gasayidad

arsebuli

fasiani

qaRaldebis

gadafasebis

rezervi sul

2007 wlis 1 ianvari 56,081 - (143) 55,938

wminda ararealizebuli mogeba gasayidad

arsebuli aqtivebidan - - 10,335 10,335

gasayidad arsebuli aqtivebis gasvlis gamo

wminda realizebuli mogebis gadatana

mogeba-zaralis angariSgebaSi - - (634) (634)

sarezervo fondSi gadatana 4,611 - - 4,611

2007 wlis 31 dekemberi 60,692 - 9,558 70,250

wminda ararealizebuli mogeba gasayidad

arsebuli aqtivebidan - - 10,380 10,380

gasayidad arsebuli aqtivebis gasvlis gamo

wminda realizebuli mogebis gadatana

mogeba-zaralis angariSgebaSi - - (3,358) (3,358)

ucxouri valutis gadafasebis rezervSi

gadatana - 9,824 - 9,824

sarezervo fondSi gadatana 58,905 - - 58,905

2008 wlis 31 dekemberi 119,597 9,824 16,580 146,001

sarezervo fondi

kanonis 23-e muxlSi Setanili cvlilebis Tanaxmad erovnuli bankis saerTo sarezervo fondma unda

Seadginos sarezervo fulis (saqarTvelos erovnuli bankis mier emitirebuli naRdi fuli da

saqarTvelos komerciuli bankis mier erovnul bankSi arsebul angariSebze erovnul valutaSi

arsebuli saxsrebi) 15 procenti. erovnuli bankis saerTo sarezervo fondi iqmneba wlis realizebuli

mogebidan, romelic Seadgens wlis wminda mogeba gadafasebiT gamowveuli ararealizebuli wminda

mogebis gamoklebiT. saerTo sarezervo fondi gamoiyeneba mxolod bankis zaralis sakompensaciod.

saerTo sarezervo fondis Seqmnis Semdeg safinanso wlis realizebuli mogebis darCenili Tanxa unda

gadairicxos saqarTvelos finansTa saministros angariSze. „saqarTvelos erovnuli bankis Sesaxeb“ saqarTvelos organuli kanonis 23-e da 24-e muxlebSi 2008 wlis 14 martiT daTariRebuli (N5908) da 2009

wlis 1 ianvars ZalaSi Sesuli cvlilebebi vrceldeba bankis finansur angariSgebaze 2008 wlis 31

dekembris mdgomareobiT da am TariRiT dasrulebuli periodisaTvis da 2008 wlis mogebis ganawileba

unda moxdes da unda iyos asaxuli 2008 wlis finansur angariSgebaSi zemoT xsenebuli cvlilebebis

Sesabamisad.

2008 wlis 14 marts 23-e muxlSi Setanil cvlilebamde banki adgenda sarezervo fondis wlis

realizebuli mogebis araumetes 50%-is ganawilebiT, sanam sarezervo fondi ar gauTanabrdeboda

ganaRdebul sawesdebo kapitals. erovnuli bankis sabWos gadawyvetilebiT SeiZleboda sarezervo fondi

ganaRdebul sawesdebo kapitalze meti yofiliyo. sarezervo fondis dadgenis Semdeg realizebuli

mogebis darCenili Tanxa gadairicxeboda saxelmwifo biujetSi safinanso wlis dasrulebidan oTxi

Tvis ganmavlobaSi.

bankis 2007 wlis darCenili realizebuli mogeba 25,000 laris odenobiT gadaericxa saqarTvelos

finansTa saministros 2008 wels (2007: 40,000 lari gadairicxa 2006 wlis realizebuli mogebidan). 2008

wlis 31 dekembris mdgomareobiT sarezervo fondi ar aRemateboda sarezervo fulis 15 procents da

Sedegad ar momxdara realizebuli mogebis ganawileba saxelmwifo biujetisTvis, xolo 2007 wels 4,611

lari gadanawilda sarezervo fondSi sabWos gadawyvetilebiT.

17. valdebulebebi sxva klientebis mimarT

2008 2007


- 4,232


4,546 15,206

valdebulebebi sxva klientebis mimarT 4,546 19,438

18.DgamoSvebuli sadepozito serTifikatebi

wliuri saprocento

ganakveTi vadianoba

nominaluri

Rirebuleba

sabalanso

Rirebuleba




20. pirobiTi valdebulebebi

saoperacio garemo

kanonmdebloba

pirobiTi finansuri valdebulebebi

dazRveva

19.Ekapitali (gagrZeleba)

ucxouri valutis gadafasebis rezervi

kanonis Secvlili 23-e muxlis Tanaxmad gadafasebiT gamowveuli ararealizebuli wminda mogeba

miemarTeba gadafasebis Sesabamis specialur rezervSi, romelic gamoiyeneba mxolod momavali

gadafasebis wminda zaralis sakompensaciod. gadafasebis specialuri rezervis ararsebobis SemTxvevaSi

gadafasebis wminda zarali ar kompensirdeba da rCeba wminda mogebaSi.

gasayidad arsebuli fasiani qaRaldebis gadafasebis rezervi

aRniSnuli rezervi warmoadgens gasayidad arsebuli fasiani qaRaldebis realuri Rirebulebis

cvlilebas.




20. pirobiTi valdebulebebi

saoperacio garemo

rogorc ganviTarebad bazars, saqarTvelos ar gaaCnia maRalganviTarebuli infrastruqtura, romelic,

rogorc wesi, axasiaTebs ufro momwifebul sabazro ekonomikas. saqarTveloSi funqcionireba

dakavSirebulia iseT riskebTan, romlebic, rogorc wesi, ar arsebobs ganviTarebul bazrebze. bolo

ramdenime wlis ganmavlobaSi, saqarTvelos mTavrobam mniSvnelovani nabijebi gadadga, ramac dadebiTi

gavlena iqonia qveynis sainvesticio garemoze. gansakuTrebiT aRsaniSnavia reformebi sabanko, iuridiul,

sagadasaxado da maregulirebeli sistemebis efeqtianobis gazrdis mimarTulebiT. yovelive aman xeli

Seuwyo makroekonomikur stabilurobas, ekonomikuri zrdis maRal tempebs da ucxouri investiciebis

Semodinebas. xelmZRvanelobis azriT, aRniSnuli nabijebi amcirebs biznesis warmoebis riskebs

saqarTveloSi.

mosalodnelia, rom biznes garemos gaumjobesebis aRniSnuli tendencia kvlavac gagrZeldeba.

saqarTvelos ekonomikis samomavlo ganviTareba mniSvnelovnad aris damokidebuli zemoTxsenebul

reformebze da saqarTvelos mTavrobisa da erovnuli bankis mier miRebuli finansuri Tu ekonomikuri

zomebis efeqturobaze. Tumca, saqarTvelos ekonomika mgrZnobiarea msoflio sabazro da ekonomikuri

pirobebis gauaresebis mimarT. mimdinare wels adgili hqonda mTel rig movlenebs, romelTac gavlena

moaxdines bankis saqmianobaze – ruseTis federaciis samxedro intervencia saqarTveloSi 2008 wlis

agvistoSi da saerTaSoriso finansuri krizisi, romelmac mniSvnelovani gavlena moaxdina globalur

ekonomikaze dawyebuli 2008 wlis bolo kvartlidan. marTalia ruseTis federaciis SemoWras pirdapiri

ziani ar miuyenebia bankisTvis, am movlenam mniSvnelovnad daaziana saqarTvelos ekonomika da gamoiwvia

Fitch-is da S&P-is mier qveynis sakredito reitingebis daweva. mimdinare msoflio finansurma krizisma da

samxedro konfliqtma gamoiwvia qarTuli suverenuli da korporatiuli fasiani qaRaldebis fasebis

meryeoba, sabanko seqtorSi likvidurobis donis droebiTi Semcireba da sakredito pirobebis

gamkacreba. saqarTvelos erovnulma bankma miiRo rigi zomebisa, romlebic mimarTulia

kreditunarianobisa da likvidurobis donis gazrdisaken, aseve xeli Seewyoba saqarTvelos

bankebisaTvis ucxouri sesxebis refinansirebas. saerTaSoriso Tanamegobrobam mniSvnelovani finansuri

daxmareba gamoyo qarTuli saxelmwifosa da kerZo seqtorisaTvis zemoaRniSnuli procesebis negatiuri

gavlenis Sesamsubuqeblad, rac SesaZleblobas miscems qarTul ekonomikas SeinarCunos zomieri zrdis

tempebi sagareo Sokebis miuxedavad.

kanonmdebloba

bankis mimdinare sasamarTlo procesebTan da saCivrebTan mimarTebaSi xelmZRvanelobas miaCnia, rom

amgvari sasamarTlo procesebidan warmoSobili valdebuleba, Tu aseTs adgili eqneba, ar iqoniebs

arsebiT uaryofiT gavlenas bankis finansur mdgomareobaze an samomavlo saqmianobis Sedegebze.

pirobiTi finansuri valdebulebebi

2008 wlis 31 dekembris mdgomareobiT, bankis pirobiTi finansuri valdebulebebi Sedgeboda 42,005 laris

akreditivebisagan (2007: 83,745 lari)

dazRveva

banks amJamad ar gaaCnia daudevrobiT an SecdomiT gamowveuli valdebulebebis dazRvevis sqema.

19.Ekapitali (gagrZeleba)




23. administraciuli xarjebi

2008 2007

sul personalis xarji 17,309 17,450

sul cveTa da amortizacia 2,669 3,305

administraciuli xarjebi 12,507 7,628

21. wminda gasamrjelo da sakomisio xarji

2008 2007

sakaso operaciebi 1,636 362

fuladi saxsrebis gadaricxva 362 302

sxva 8 8

gasamrjelo da sakomisio Semosavali 2,006 672

sakaso operaciebi (2,039) (296)

Tbilisis bankTaSorisi savaluto birJis (Tbsb) operaciebis

gasamrjelo (328) (290)

saangariSsworebo operaciebi (131) (118)

sxva (116) (673)

gasamrjelo da sakomisio xarji (2,614) (1,377)

wminda gasamrjelo da sakomisio xarji

(608) (705)

22. sxva Semosavali

2008 2007

valdebulebis Sewyveta 4,274 -

Semosavali jarimebidan 2,247 2,788

sainvesticio monetebis gayidvidan miRebuli mogeba 253 63

sxva 366 578

sxva Semosavali 7,140 3,429

4,274 laris valdebuleba ucxouri finansuri dawesebulebis mimarT daregulirda 2008 wels fuladi

angariSsworebis gareSe, radganac valdebulebis dafarva Tavis Tavze aiRo saqarTvelos finansTa

saministrom.




23. administraciuli xarjebi

administraciuli xarjebi moicavs:

2008 2007

xelfasebi da premiebi 16,096 12,931

sapensio xarji 722 912

Svebulebebi da biuleteni 491 646

socialuri gadasaxadi - 2,961

sul personalis xarji 17,309 17,450

cveTa (SeniSvna 12) 2,465 3,004

amortizacia 204 301

sul cveTa da amortizacia 2,669 3,305

finansuri monitoringis samsaxursa (fms) da finansuri

zedamxedvelobis saagentosTan (fzs) dakavSirebuli xarji

4,130 1,633

ZiriTadi saSualebebis gadafasebidan miRebuli zarali 2,314 -

ZiriTadi saSualebebis gayidvidan miRebuli zarali 1,312 327

socialuri daxmareba 941 416

dacva 804 1,032

sainformacio momsaxureba 671 743

komunaluri momsaxureba 569 577

kavSirgabmuloba 318 615

profesiuli momsaxureba 256 185

kvalifikaciis amaRleba 183 198

ZiriTadi saSualebebis SekeTeba da Senaxva 158 384

mivlineba 158 262

saofise xarji 131 253

programuli uzrunvelyofis xarji 57 236

reklama 19 55

sxva 486 712

administraciuli xarjebi 12,507 7,628

xelfasebi da premiebi 2008 wlis 31 dekembriT dasrulebuli wlisaTvis Seicavs 1,920 laris 2005 wlis

welTa namsaxurevis Tanxas, romlis gadaxdac moxda 2008 wels sasamarTlo gadawyvetilebis Tanaxmad.

finansuri monitoringis samsaxurisa (fms) da finansuri zedamxedvelobis saagentos (fzs) xarji

warmoadgens damoukidebeli dawesebulebebis: finansuri monitoringis samsaxurisa da finansuri

zedamxedvelobis xarjs, romlebic finansdeba bankis mier.

ZiriTadi saSualebebis gadafasebidan miRebuli zarali 2008 wlis 31 dekembriT dasrulebuli

wlisaTvis gamowveulia gasayidad gankuTvnili ZiriTadi saSualebebis realur Rirebulebas

gamoklebuli gayidvis danaxarjebamde CamoweriT.

21. wminda gasamrjelo da sakomisio xarji

2008 2007

gasamrjelo da sakomisio Semosavali 2,006 672

gasamrjelo da sakomisio xarji (2,614) (1,377)

wminda gasamrjelo da sakomisio xarji

(608) (705)

22. sxva Semosavali

2008 2007

sxva Semosavali 7,140 3,429




24. riskebis marTva (gagrZeleba)

sakredito riski

SeniSvne

bi

maqsimaluri

riski

2008

maqsimaluri

riski

2007

3,254,058 3,076,513

sul sakredito riski 3,296,063 3,160,258

24. riskebis marTva

Sesavali

riski bankis saqmianobis ganuyofeli nawilia. Sesabamisad, riskebis marTva warmoadgens bankis

saqmianobis arsebiT komponents. riskis marTva SesaZlebelia mudmivi identificirebis, Sefasebisa da

yoveldRiuri monitoringis gziT. bankis TiToeuli TanamSromeli pasuxismgebelia sakuTar

saqmianobasTan dakavSirebuli riskis gamJRavnebaze. bankis operaciebisTvis damaxasiaTebeli ZiriTadi

riskebia sakredito, likvidurobisa da sabazro riskebi. banki agreTve dgas saoperacio riskis winaSe.

bankis sabWo maqsimalurad aris pasuxismgebeli riskebis identificirebasa da kontrolze, Tumca

arsebobs calkeuli biznes erTeulebi, romlebic pasuxs ageben sxvadasxva riskebis marTvasa da

monitoringze.

sabWo

bankis sabWos gaaCnia mTliani pasuxismgebloba zedamxedveloba gauwios riskebis marTvis struqturas,

akontrolos ZiriTadi riskebis marTva da gadaxedos riskebis marTvis politikasa da procedurebs.

rezervebis marTvis komiteti

bankis rezervebis marTvis komiteti (SemdgomSi “komiteti”) pasuxismgebelia riskebis SemcirebisaTvis

ganxorcielebuli zomebisa da Sesatyvisobis monitoringis ganxorcielebaze. komitetma agreTve unda

miiRos rwmuneba imisa, rom mTlianad bankis saqmianoba riskebis dadgenili parametrebis farglebSi.

komitetis Cveulebrivi saqmianoba moicavs yovelTviuri angariSebis mimoxilvas, kontragentebis siis

damowmebas, strategiuli cvlilebebis sabWoSi wardgenamde damowmebas da aqtivebis ganawilebasTan

dakavSirebuli mniSvnelovani taqtikuri gadawyvetilebebis miRebas.

riskebis marTvisa da kontrolis ganyofileba

bankis riskebis marTvisa da kontrolis ganyofileba (SemdgomSi “ganyofileba”) pasuxismgebelia saerTo

riskebis marTvasa da dadgenil parametrebTan Sesabamisobaze. ganyofilebam unda uzrunvelyos riskebis

amocnobis, Sefasebis, marTvisa da angariSgebisaTvis saWiro saerTo principebisa da meTodebis

SemuSaveba. ganyofilebis ZiriTad funqcias warmoadgens bankis winaSe mdgari riskebis amocnoba,

analizi da marTva, Sesabamisi riskis limitisa da kontrolis meqanizmebis dadgena da riskebis donisa

da limitebis mudmivi monitoringi. ganyofileba agreTve atarebs benCmarkingsa da stres tests.

ganyofileba yovelTviurad angariSvaldebulia rezervebis marTvis komitetis winaSe.

Sida auditi

Sida auditis mier yovelwliurad xdeba bankis riskebis marTvis procesebis auditi. Sedegad Sida

auditi amowmebs rogorc procedurebis adekvaturobas, aseve bankis saqmianobis Sesabamisobas aRniSnul

procedurebTan. Sida auditi xelmZRvanelobasTan ganixilavs Sefasebis Sedegebs da sabWos

Tavmjdomares warudgens mis aRmoCenebsa da rekomendaciebs.

riskebis Sefasebisa da angariSgebis sistemebi

operaciebis struqturidan gamomdinare, bankSi riskebis marTva xorcieldeba centralizebuli da

aracentralizebuli meTodiT. finansuri riskis marTva xorcieldeba centralizebulad, maSin rodesac

saoperacio riskis marTvis procesi ar aris centralizebuli.

riskebis marTva pirdapir xorcieldeba sxvadasxva ganyofilebebis mier. bankSi arsebobs aseve

specialuri komitetebi da komisiebi operaciebisa da kontrolis ganxorcielebisaTvis, rogorebicaa

rezervebis marTvis komiteti, sakredito komiteti da a.S.

mniSvnelovania bankis riski ucxour valutaSi arsebul aqtivebTan dakavSirebiT. riskis marTvasTan

dakavSirebuli procedurebis, movaleobebisa da angariSvaldebulebis ganawilebas aregulirebs

“saqarTvelos erovnuli bankis saerTaSoriso rezervebis marTvis principebi da strategia”.





Warbi riskis koncentracia

riskis koncentracias adgili aqvs maSin, rodesac kontragentebi CarTulni arian msgavs biznes

saqmianobaSi, saqmianobas ewevian erTsa da imave geografiul regionSi, an aqvT msgavsi ekonomikuri

mdgomareoba da ekonomikuri, politikuri da sxva cvlilebebi Tanabar uaryofiT gavlenas axdens

saxelSekrulebo valdebulebebis Sesrulebis unarze. koncentracia miuTiTebs imaze, rom banki

SedarebiT mgrZnobiare iqneba konkretul sferosa Tu geografiul nawilSi mimdinare cvlilebebis

mimarT.

Warbi riskis koncentraciis Tavidan acilebis mizniT bankis politika da procedurebi moicavs

diversificirebuli portfelis Seqmnisa da SenarCunebis specialur instruqciebs.

sakredito riski

sakredito riski aris potenciuri danakargi, romelic SesaZlebelia warmoiSvas kontragentis mier

nakisri valdebulebebis Seusruleblobis SemTxvevaSi. banki marTavs da akontrolebs sakredito

riskebs sainvesticio aqtivebis saTanadod SerCeviT, amave aqtivebis sakredito xarisxiT da sainvesticio

aqtivze investiciis moculobis limitebis dawesebiT. bankSi SemuSavebulia sakredito riskis marTvis

politika da procedurebi portfelis koncentraciis instruqciebis CaTvliT. rezervebis marTvis

komiteti axorcielebs bankis sakredito riskis mudmiv monitorings. bankis sakredito politikis

mimoxilva da damtkiceba xdeba erovnuli bankis sabWos mier.

imisaTvis, rom SeizRudos sakredito riskis mimarT daucveloba ucxour valutaSi, riskebis marTvis

ganyofilebis mier Sedgenil iqna sando partniorTa sia, romelTac aqvT saerTaSoriso sareitingo

saagentoebis (Standard & Poor’s, Moody’s and Fitch) mier dadgenili maRali grZelvadiani sakredito

reitingi. aRniSnuli sia damowmebul iqna rezervebis marTvis komitetis mier.

partniorTa SerCevisas mxedvelobaSi miiReba bankis sakredito reitingi, qveyana sadac aRniSnuli

organizacia mdebareobs, bankis aqtivebisa da kapitalis moculoba, saerTaSoriso bazrebze da

korporatiul klientebTan muSaobis gamocdileba da momxmarebelTaTvis SeTavazebuli momsaxurebis

speqtri. bankis kontragentisaTvis zemoTaRniSnul saagentoTa mier grZelvadiani sakredito reitingis

CamoqveiTebis SemTxvevaSi, kontragenti amoRebul iqneba siidan. sakredito reitingi unda iyos sul

mcire AA da unda iyos miniWebuli samidan sul mcire ori sakredito sareitingo saagentos mier.

mimdinare angariSebTan da komerciul miznebTan mimarTebaSi bankis sakredito riski SedarebiT dabalia

da Sesabamisad, minimaluri moTxovna aris A, romelic miniWebuli unda iyos samidan sul mcire ori

sakredito sareitingo saagentos mier.

banks aseve gaaCnia limitebi da suverenuli limitebi individualuri kontragentebisaTvis.

qvemoT moyvanili cxrili aRwers sabalanso angariSgebis komponentebis maqsimalur sakredito risks.

maqsimaluri sakredito riski naCvenebia gaufasurebis rezervis Seqmnamde da urTierTCaTvlisa da

uzrunvelyofis xelSekrulebis gavlenamde.

SeniSvne

bi

maqsimaluri

riski

2008

maqsimaluri

riski

2007

fuli da fuladi ekvivalentebi (naRdi fulis gamoklebiT) 5 1,185,891 1,118,348 moTxovnebi sakredito dawesebulebebis mimarT 6 40,947 141,537 SDR-is angariSi saerTaSoriso savaluto fondSi 7 20,515 23,533 gasayidad arsebuli fasiani qaRaldebi 8 1,036,489 823,394 adgilobriv komerciul bankebze gacemuli sesxebi 9 209,412 73,132 dafarvis vadamde flobili fasiani qaRaldebi 10 756,853 892,994 sxva aqtivebi 13 3,951 3,575

33,254,058 3,076,513

pirobiTi finansuri valdebulebebi 20 42,005 83,745


rodesac finansuri instrumentebi aRricxulia samarTliani RirebulebiT, zemoT naCvenebi Tanxa

warmoadgens mimdinare sakredito risks, magram es ar aris maqsimaluri riski, romelic SesaZloa

warmoiSvas samomavlod Rirebulebis cvlilebebis Sedegad. finansuri instrumentis TiToeuli

tipisaTvis maqsimaluri sakredito riskis Taobaze miTiTebebi warmodgenilia zemoT aRniSnul

konkretul SeniSvnebSi.


sakredito riski

SeniSvne

bi

maqsimaluri

riski

2008

maqsimaluri

riski

2007

3,254,058 3,076,513


24. riskebis marTva

Sesavali



SDR



sakredito riski (gagrZeleba)

arc vadagadacilebuli da arc gaufasurebuli 2008

SeniSvnebi

AAA reitingi

AA reitingi

A reitingi

B reitingi

2008

sul

2008

sul - 900,208 - - 900,208


SeniSvnebi

AAA reitingi

AA reitingi

A reitingi

B reitingi

2007

sul

2007

sul - 811,914 - - 811,914



qvemoT warmodgenilia bankis mier ucxour valutaSi flobili finansuri instrumentebis emitenti

organizaciebis reitingis cxrili, romelic moicavs iseTi saerTaSoriso saagentoebis sakredito

reitings rogorebicaa: S&P, Fitch and Moody’s. rodesac saagentoebis mier aqtivisTvis xdeba gansxvavebuli

sakredito reitingis miniWeba, aRniSnuli aqtivis warmodgenisTvis gamoiyeneba umciresi sakredito

reitingi.

2008 wlis 31

dekemberi AAA AA+ AA AA- A+ A B reitingis

gareSe sul

fuli da fuladi

ekvivalentebi

(naRdi fulis

gamoklebiT)

165,904 70,986 298,002 366,786 186,873 97,340 - - 11,185,891

moTxovnebi

sakredito

dawesebulebebis

mimarT

9,577 - - - 2,226 29,144 - - 440,947

SDR-is angariSi saerTaSoriso

savaluto

fondSi

20,515 - - - - - - - 220,515

gasayidad

arsebuli

fasiani

qaRaldebi

860,237 - 82,252 - - - 93,960 40 11,036,489

adgilobriv

komerciul

bankebze

gacemuli

sesxebi

- - - - - - 35,300 174,112 2209,412

dafarvis vadamde

flobili

fasiani

qaRaldebi

66,057 - - - - - 690,796 - 7756,853

sxva aqtivebi - - - - - - - 3,951 33,951

2007 wlis 31


gareSe sul

fuli da fuladi

ekvivalentebi

(naRdi fulis

gamoklebiT)

112,032

87,542

598,980

263,877

55,917

-

-

-

1,118,348

moTxovnebi

sakredito

dawesebulebebis

mimarT

- 540

54,961

68,663

17,373 - - - 1141,537


savaluto

fondSi

23,533 - - - - - - - 223,533

gasayidad

arsebuli

fasiani

qaRaldebi

783,690 - - - - - 39,664 40 8823,394

adgilobriv

komerciul

bankebze

gacemuli

sesxebi

- - - - - - 50,011 23,121 773,132

dafarvis vadamde

flobili

fasiani

qaRaldebi

154,212 - - - - - 738,782 - 8892,994

sxva aqtivebi - - - - - - - 3,575 33,575






sakredito xarisxi finansuri aqtivebis tipebis mixedviT

rogorc centraluri banki, banki uzrunvelyofs qveynis finansuri sistemis stabilurobas

likvidurobis problemis mqone bankebisaTvis moklevadiani sesxebis gacemiT. qvemoT moyvanilia bankis

sakredito reitingis sistemaze dayrdnobiT Sedgenili sasesxo aqtivebis sakredito xarisxi.


SeniSvnebi

AAA reitingi

AA reitingi

A reitingi

B reitingi

2008

sul

2008

adgilobriv komerciul

bankebze gacemuli sesxebi 9 - 209,412 - - 209,412

dafarvis vadamde flobili

fasiani qaRaldebi 10 - 690,796 - - 690,796

sul - 900,208 - - 900,208


SeniSvnebi

AAA reitingi

AA reitingi

A reitingi

B reitingi

2007

sul

2007


bankebze gacemuli sesxebi 9 - 73,132 - - 73,132

dafarvis vadamde flobili

fasiani qaRaldebi 10 - 738,782 - - 738,782

sul - 811,914 - - 811,914

bankis mier misi sasesxo portfelis klasificireba xdeba Semdegnairad:

AAA reitingi – kargi finansuri maCveneblebis mqone msesxeblebisTvis gacemuli sesxebi, romelTa

sesxis xelSekrulebebis pirobebSi ar Sesula cvlilebebi da romelTa ZiriTadi Tanxa da procenti ar

aris vadagadacilebuli.

AA reitingi – stabiluri finansuri maCveneblebis mqone msesxeblebisTvis gacemuli sesxebi, romelTa

sesxis xelSekrulebebis pirobebSi ar Sesula cvlilebebi da romelTa ZiriTadi Tanxa da procenti ar

aris vadagadacilebuli.

A reitingi – damakmayofilebeli finansuri maCveneblebis mqone msesxeblebisTvis gacemuli sesxebi,

romelTa sesxis xelSekrulebebis pirobebSi Sesulia cvlilebebi da romelTa ZiriTadi Tanxa da

procenti ar aris vadagadacilebuli.

B reitingi - damakmayofilebeli finansuri maCveneblebis mqone msesxeblebisTvis gacemuli sesxebi,

romelTa sesxis xelSekrulebebis pirobebSi Sesulia cvlilebebi da romelTa ZiriTadi Tanxa da

procenti vadagadacilebulia.

politikis Sesabamisad, bankma sakredito portfelis miznebisaTvis saTanadod unda awarmoos riskis

reitingebi. dakavSirebuli riskebis reitingebis Sefaseba da ganaxleba regularulad xdeba.

gaufasurebis Sefaseba

sesxis gaufasurebis Sefasebisas iTvaliswineben ZiriTadi Tanxis an procentis 90 dReze metad

vadagadacilebas, kontragentis fulad nakadebTan dakavSirebul problemebs, sakredito reitingis

Semcirebas da xelSekrulebis Tavdapirveli pirobebis darRvevas. banki gaufasurebis Sefasebas axdens

individualurad da koleqtiurad.



2008 wlis 31


gareSe sul

1,185,891

40,947

20,515

1,036,489

209,412

756,853

3,951

2007 wlis 31


gareSe sul

1,118,348

141,537

23,533

823,394

73,132

892,994

3,575





likvidurobis riski



individualurad Sefasebuli rezervebi

banki TiToeuli sesxisaTvis individualurad gansazRvravs rezervs. rezervis Tanxis gansazRvrisas

mxedvelobaSi miiReba kontragentis biznes gegma, misi unari gaumklavdes finansur sirTuleebs aseTis

warmoSobis SemTxvevaSi, gakotrebis SemTxvevaSi dagegmili qmedebebi, sxva finansuri saxsrebis arseboba.

uzrunvelyofis sarealizacio Rirebuleba da mosalodneli fuladi nakadebis perioduloba.

gaufasurebis zaralis Sefaseba xdeba saangariSgebo TariRiT, Tu gauTvaliswinebeli movlenebi

sxvagvarad ar moiTxovs.

koleqtiurad Sefasebuli rezervebi

rezervebis koleqtiurad Sefaseba xdeba im sesxebidan warmoSobili zaralisaTvis, romlebic

individualurad ar aris arsebiTi, da im sesxebisaTvis, romlebic individualurad arsebiTia, magram ar

arsebobs individualuri gaufasurebis obieqturi safuZveli. rezervebis Sefaseba xdeba saangariSgebo

TariRiT yvela calkeuli portfelisaTvis.

TanamSromlebze gacemuli sesxebi

bankis TanamSromlebs ufleba aqvT bankSi muSaobis periodSi aiRon sesxi bankidan. TanamSromlis

gaTavisuflebis SemTxvevaSi dasafari sesxisaTvis iqmneba 100%-iani rezervi. sesxis Camowera xdeba

bankis xelmZRvanelobis gadawyvetilebiT.

komerciuli bankebisaTvis gacemuli sesxebi

im SemTxvevaSi, Tu komerciuli banki droulad ver dafaravs sesxs, organuli kanonis 64-e muxlis

Tanaxmad banks ufleba aqvs amoiRos dasafari Tanxa komerciuli bankis nebismieri aqtividan. banki ar

qmnis rezervs adgilobrivi komerciuli bankebis mimarT moTxovnebze.

bankis finansuri aqtivebisa da valdebulebebis geografiuli koncentracia Semdegia:

2008 2007

saqarTvelo egTo sul saqarTvelo egTo sul

aqtivebi: fuli da fuladi ekvivalentebi (naRdi

fulis gamoklebiT) 248,699 1,185,891 1,434,590 26,970 1,118,348

1,145,318

moTxovnebi sakredito dawesebulebebis

mimarT - 40,947 40,947

-

141,537

141,537


savaluto fondSi - 20,515 20,515

-

23,533

23,533

gasayidad arsebuli fasiani qaRaldebi 94,000 942,489 1,036,489 39,704 783,690 823,394

adgilobriv komerciul bankebze

gacemuli sesxebi 690,796 66,057 756,853 738,782 154,212 892,994


qaRaldebi 209,412 - 209,412 73,132 - 73,132

sxva aqtivebi 5,054 575 5,629 8,038 3 8,041

1,247,961 2,256,474 3,504,435 886,626 2,221,323 3,107,949

valdebulebebi: valdebulebebi sakredito

dawesebulebebis mimarT 351,378 - 351,378 471,498 -

471,498

valdebulebebi saqarTvelos finansTa

saministros mimarT

879,971 - 879,971

450,131 -

450,131

valdebulebebi meanabreTa mimarT 1,385 3,161 4,546 15,206 4,232 19,438

valdebulebebi saerTaSoriso

savaluto fondis mimarT

- 763,789 763,789

- 400,900

400,900

gamoSvebuli sadepozito

serTifikatebi 77,352 - 77,352 376,541 - 376,541

sxva valdebulebebi 4,959 1,244 6,203 4,670 - 4,670

1,315,045 768,194 2,083,239 1,318,046 405,132 1,723,178

wminda sabalanso pozicia (67,084) 1,488,280 1,421,196 (431,420) 1,816,191 1,384,771





likvidurobis riski

likvidurobis riski warmoadgens risks imisa, rom banki ver dafaravs nakisr finansur valdebulebebs

vadis dadgomisas Cveulebriv Tu rTul viTarebaSi. bankis mier likvidurobis riskis marTva efuZneba

likvidurobis saWiro donis uzrunvelyofas bankis mimarT arsebuli moTxovnebis nebismier viTarebaSi

dakmayofilebis mizniT.

fasebis stabilurobasTan da savaluto politikis kontrolTan dakavSirebuli ZiriTadi miznebis

misaRwevad, banki flobs saoperacio aqtivebs ucxour valutaSi, romlebic warmoadgenen likviduri

aqtivebis jgufs da romelTa gamoyenebac moxdeba saWiroebis SemTxvevaSi. likvidurobis riskis marTva

moicavs likviduri aqtivebis amocnobasa da minimaluri likvidurobis limitebis dadgenas ucxour

valutaSi arsebuli aqtivebisaTvis.

bankis fulad-sakredito da savaluto politika da rezervebis marTvis saerTaSoriso komiteti adgens

im vadadamdgari saxsrebis minimaluri proporciis zRvrebs, romlebic gamoiyeneba fuladi saxsrebis

gadinebis dasafarad. bankis likvidurobis marTvis politika moiTxovs:

ZiriTad valutebSi fuladi nakadebis prognozirebas likviduri aqtivebis donis

gaTvaliswinebiT;

dafinansebis diversificirebuli wyaros arsebobas;

sesxebis koncentraciisa da parametrebis marTvas;

portfelis maRal likvidur aqtivebSi ganTavsebas, romlebic advilad iqnebian likvidirebulni,

rogorc dacvis meqanizmi nebismieri fuladi nakadis Sewyvetisas;

likvidurobisa da gauTvaliswinebeli dafinansebis gegmis arsebobas;

balansis likvidurobis koeficientebis monitorings maregulirebel moTxovnebTan mimarTebaSi.

savaluto da fuladi-sakredito operaciebis departamenti iRebs informacias biznes erTeulebidan

finansuri aqtivebisa da valdebulebebis likvidurobis WrilSi da sxva detalebs prognozirebuli

fuladi nakadebis Sesaxeb. Semdgom, departamenti uzrunvelyofs adekvaturi portfelis moklevadiani

likviduri aqtivebis arsebobas, met-wilad gamoxatuls moklevadian likvidur fasian qaRaldebSi,

bankebze gacemul sesxebsa da sxva bankTaSoris operaciebSi.

yoveldRiurad likvidurobis poziciis monitoringi xorcieldeba savaluto da fulad-sakredito

departamentis mier sxvadasxva scenarebis „stress testing“-iT, romelic moicavs normaluri da sxva ufro

mkacri sabazro pirobebis gaTvaliswinebas. normaluri sabazro pirobebis gaTvaliswinebiT

momzadebuli likvidurobis moxsenebebi yovelkvireulad waredgineba xelmZRvanelobas. bankis

likvidurobis marTvis Sesaxeb gadawyvetilebebs iRebs monetaruli politikis komiteti da nergavs

savaluto da fulad-sakredito operaciebis departamenti.



2008 2007

saqarTvelo egTo sul saqarTvelo egTo sul

aqtivebi:

1,247,961 2,256,474 3,504,435 886,626 2,221,323 3,107,949

valdebulebebi:

1,315,045 768,194 2,083,239 1,318,046 405,132 1,723,178

wminda sabalanso pozicia (67,084) 1,488,280 1,421,196 (431,420) 1,816,191 1,384,771




3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

saprocento ganakveTis

zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


likvidobis riski (gagrZeleba)

finansuri

valdebulebebi 3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul aradiskontirebuli

finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri valdebulebebis analizi narCeni sakontraqto vadebis mixedviT

qvemoT mocemul cxrilSi naCvenebia aradiskontirebuli fuladi nakadebi dafuZnebuli savaraudo

sakontraqto vadianobaze. dafarvebisaTvis, romlebic eqvemdebareba Setyobinebas, igulisxmeba

Setyobinebis myisieri miReba. Tumca, bankis varaudiT aseTi raodenobis meanabreebi ar moiTxoven

valdebulebebis dafarvas yvelaze adreuli SesaZlo TariRiT da Sedegad cxrili ar asaxavs

mosalodnel fulad nakadebs.

finansuri

valdebulebebi

2008 wlis 31 dekemberi

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

ganusazRvreli

vada

sul

valdebulebebi

sakredito

dawesebulebebis

mimarT

351,378 - - - - 351,378

valdebulebebi


saministros mimarT

840,245 39,726 - - - 879,971

valdebulebebi

meanabreTa mimarT 4,546 - - - - 4,546

gamoSvebuli

sadepozito

serTifikatebi

77,352 - - - - 77,352

valdebulebebi

saerTaSoriso

savaluto fondis

mimarT

2,460 61,434 678,231 75,880 - 818,005

sxva valdebulebebi 3,444 - - 2,759 - 6,203


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri

valdebulebebi

2007 wlis 31 dekemberi

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

ganusazRvreli

vada

sul

valdebulebebi

sakredito

dawesebulebebis

mimarT

471,498 - - -

- 471,498

valdebulebebi


saministros mimarT 369,104 69,204 11,823 -

- 450,131

valdebulebebi

meanabreTa mimarT 15,217 292 - 5,970 - 21,479

gamoSvebuli

sadepozito

serTifikatebi

376,541 - - - - 376,541

valdebulebebi

saerTaSoriso

savaluto fondis

mimarT

1,016 57,389 230,605 120,438 - 409,448

sxva valdebulebebi 157 186 4,345 - - 4,688

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

ganusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

ganusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785





finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785





131,445 149,861

saprocento xarji

(38,285) (36,137)


93,160 113,724

wminda saprocento Semosavali gaufasurrebis rezervis

gaTvaliswinebiT

92,055 113,324


23,031 (50,450)

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

sabazro riski warmoiSoba finansuri instrumentebis Rirebulebis cvlilebis Sedegad, rac gamowveulia

saprocento ganakveTebisa da savaluto kursis cvalebadobiT. sabazro riskebi moicavs savaluto risks,

saprocento ganakveTebisa da sxva fasis cvlilebis riskebs. sabazro riski warmoiSoba saprocento

ganakveTis, savaluto da kapitalis finansuri instrumentebis Ria poziciidan, romlebic ar aris

daculi zogadi da specifikuri sabazro ryevebisa da sabazro fasebis cvlilebebisagan.

saprocento ganakveTis riski

sabazro riskis marTvis mizania sabazro riskis misaReb parametrebSi SenarCuneba da imavdroulad

mogebis optimizacia. sabazro riskis marTva xdeba bankis saerTaSoriso rezervebis saSualo

xangrZlivobis winaswar dadgenili maCvenebliT. instrumentebis maqsimaluri xangrZlivoba

ganisazRvreba sxvadasxva finansuri instrumentebis portfelisaTvis.

winamdebare cxrili aRwers bankis finansuri aqtivebisa da valdebulebebis realur sabazro

Rirebulebaze saprocento ganakveTis 1%-iani cvlilebis gavlenas. saprocento ganakveTis riskis

mgrZnobelobis analizi xorcieldeba “riskis faqtoris savaraudo cvlilebis” (PV01) Sesabamisad.

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

aSS. dolari 1%

(1,787)

1%

(11,654)

evro 1%

(1,679)

1%

(2,884)

funti sterlingi 1%

(95)

1%

(22)

SDR 1%

3,914

1%

(235)

sxva 1%

-

1%

(7)

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

aSS. dolari (1%)

1,787

(1%)

11,654 evro (1%)

1,679

(1%)

2,884 funti sterlingi (1%)

95

(1%)

22

SDR (1%)

(3,914)

(1%)

235 sxva (1%)

-

(1%)

7



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785

qvemoT mocemul cxrilSi naCvenebia bankis pirobiTi finansuri valdebulebebi sakontraqto vadianobis

mixedviT.

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

(1,787)

(1,679)

(95)

3,914

-

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

(11,654)

(2,884)

(22)

(235)

(7)

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

11,654

2,884

22

235

7

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

1,787

1,679

95

(3,914)

-



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785



finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785





finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul


finansuri

valdebulebebi

1,279,425 101,160 678,231 78,639 - 2,137,455

finansuri


naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada

sul

sul

aradiskontirebuli

finansuri

valdebulebebi

1,233,533 127,071 246,773 126,408 - 1,733,785





131,445 149,861

saprocento xarji

(38,285) (36,137)


93,160 113,724

wminda saprocento Semosavali gaufasurrebis rezervis

gaTvaliswinebiT

92,055 113,324


23,031 (50,450)

arasaprocento xarji

(46,357) (33,263)

wminda mogeba

68,729 29,611

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

(1,787)

(1,679)

(95)

3,914

-

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

(11,654)

(2,884)

(22)

(235)

(7)

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

11,654

2,884

22

235

7

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

1,787

1,679

95

(3,914)

-

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

ganusazRvreli

vada sul

2008 2,279 39,726 - - - 442,005

2007 2,718 69,204 11,823 - - 883,745

banki varaudobs, rom yvela pirobiTi valdebuleba ar iqneba dasafari vadis dadgomamde.


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


879,971 450,131

4,546 19,438

77,352 376,541

763,789 400,900

6,203 4,688

sul

valdebulebebi 1,091,477 186,103 41,253 763,789 617 2,083,139 1,025,143 289,115 6,003 400,900 2,035 1,723,196

wminda

sabalanso

pozicia

(92,215) 1,203,578 976,517 (742,702) 76,018 1,421,296 (165,487) 1,119,042 807,973 (377,367) 592 1,384,753

savaluto

kursis zrda %

gavlena

mogebaze 12,036 9,765 (7,427) 760 11,190 8,080 (3,774) 6

savaluto

kursis kleba %

gavlena

mogebaze (12,036) (9,765) 7,427 (760) (11,190) (8,080) 3,774 (6)


saoperacio riski


sabazro riski (gagrZeleba)

2008 2007

lari aSS

dol.

evro SDR sxva sul lari aSS

dol.

evro SDR sxva sul

aqtivebi:

1,434,590 1,145,318

40,947 141,537

20,515

23,533

1,036,489 823,394

209,412

73,132

756,853 892,994

5,629 8,041

sul aqtivebi 999,262 1,389,681 1,017,770 21,087 76,635 3,504,435 859,656 1,408,157 813,976 23,533 2,627 3,107,949

valdebulebebi:

351,278 471,498

879,971 450,131

4,546 19,438

77,352 376,541

763,789 400,900

6,203 4,688

sul

valdebulebebi 1,091,477 186,103 41,253 763,789 617 2,083,139 1,025,143 289,115 6,003 400,900 2,035 1,723,196

wminda

sabalanso

pozicia

(92,215) 1,203,578 976,517 (742,702) 76,018 1,421,296 (165,487) 1,119,042 807,973 (377,367) 592 1,384,753

savaluto

kursis zrda %

gavlena

mogebaze 12,036 9,765 (7,427) 760 11,190 8,080 (3,774) 6

savaluto

kursis kleba %

gavlena

mogebaze (12,036) (9,765) 7,427 (760) (11,190) (8,080) 3,774 (6)


saoperacio riski

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

wrfivi meTodiT da SeiZleba ver moxerxdes valutis kursebis metnaklebi cvlilebebisadmi

mgrZnobelobis interpolacia da eqstrapolacia cxrilSi moyvanil monacemebze dayrdnobiT.

mgrZnobelobis analizi ar asaxavs bankis aqtivebisa da valdebulebebis aqtiurad marTvas. SemdgomSi,

bankis finansuri mdgomareoba SesaZloa Seicvalos sabazro pirobebis cvlilebebis Tanaxmad.

magaliTad, bankis finansuri riskis marTvis strategia gulisxmobs sabazro pirobebis cvlilebebisadmi

mgrZnobelobis marTvas. rodesac sabazro pirobebis cvlilebebi scdeba garkveul zRvars, bankis

xelmZRvanelobam SesaZloa miiRos saTanado zomebi. Sedegad, daSvebebSi cvlilebebma SesaZloa ar

iqonios gavlena valdebulebebze, maSin rodesac aqtivebi sabalanso angariSgebaSi Sefasebulia

sabazro RirebulebiT. aseT SemTxvevebSi, aqtivebisa da valdebulebebis Sefasebis sxvadasxva meTodebis

gamoyenebam SesaZloa gamoiwvios cvlilebebi wminda aqtivebSi.

zemoT aRwerili mgrZnobelobis analizis sxva SezRudvebi moicavs: hipoTezuri sabazro cvlilebebis

gamoyenebas potenciuri riskis demonstrirebis mizniT, romelic ar asaxavs sabazro pirobebis

mosalodnel cvlilebebs axlo momavalSi da romelic asaxavs mxolod bankis mdgomareobas

saprocento ganakveTebis msgavsi cvlilebebisas.



2008 2007

lari aSS

dol.


dol.

evro SDR sxva sul

aqtivebi:

1,434,590 1,145,318

40,947 141,537

20,515

23,533

1,036,489 823,394

209,412

73,132

756,853 892,994

5,629 8,041

sul aqtivebi 999,262 1,389,681 1,017,770 21,087 76,635 3,504,435 859,656 1,408,157 813,976 23,533 2,627 3,107,949

valdebulebebi:

351,278 471,498



savaluto riski

savaluto riski warmoadgens savaluto kursebis cvlilebis gamo finansuri instrumentis Rirebulebis

cvalebadobis risks. aqtivebis savaluto struqturidan gamomdinare bankis aqtivebis RirebulebisTvis

damaxasiaTebelia ZiriTadi valutebis kursebis cvlilebebis riski.

winamdebare cxrili gviCvenebs bankis ZiriTad valutebs 2008 da 2007 wlebis 31 dekembris mdgomareobiT,

mis arasavaWro finansur aqtivebTan da valdebulebebTan da saprognozo fulad nakadebTan mimarTebaSi.

analizis Sedegad gamoiTvleba larTan mimarTebaSi savaluto kursebis dasaSvebi cvlilebebis gavlena

mogeba-zaralis angariSgebaze sxva Tanabar pirobebSi. uaryofiTi naSTebi cxrilSi asaxavs mogeba-

zaralis angariSgebaSi potenciur wminda klebas, xolo dadebiTi naSTebi asaxavs potenciur wminda

matebas.

2008 2007

lari aSS

dol.


dol.

evro SDR sxva sul

aqtivebi:

1,434,590 1,145,318

40,947 141,537

20,515

23,533

1,036,489 823,394

209,412

73,132

756,853 892,994

5,629 8,041

sul aqtivebi 999,262 1,389,681 1,017,770 21,087 76,635 3,504,435 859,656 1,408,157 813,976 23,533 2,627 3,107,949

valdebulebebi:

351,278 471,498

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

mgrZnobelobis analizis SezRudvebi: winamdebare cxrili asaxavs ZiriTadi daSvebebis cvlilebebis

gavlenas sxva Tanabar pirobebSi. realurad arsebobs urTierTkavSiri cxrilSi asaxul daSvebebsa da

sxva faqtorebs Soris. unda aRiniSnos, rom cxrilSi moyvanili mgrZnobelobis tipebi ar gamoiTvleba

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


finansuri angariSgeba 3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


mimarT

valdebulebebi

saqarTvelos

finansTa

saministros

mimarT

863,629 15,155 580 - 607 8879,971 440,613 6,301 1,194 - 2,023 4450,131

valdebulebebi

meanabreTa

mimarT

4,546 - - - - 44,546 15,206 - 4,232 - - 119,438

gamoSvebuli

sadepozito

serTifikatebi

77,352 - - - - 777,352 376,541 - - - - 3376,541

valdebulebebi

ssf-is mimarT - - - 763,789 - 7763,789 - - - 400,900 - 4400,900

sxva

valdebulebebi

4,760 199 1,244 - - 66,203 4,670 18 - - - 44,688

sul

valdebulebebi 1,091,477 186,103 41,253 763,789 617 2,083,139 1,025,143 289,115 6,003 400,900 2,035 1,723,196

wminda

sabalanso

pozicia

(92,215) 1,203,578 976,517 (742,702) 76,018 1,421,296 (165,487) 1,119,042 807,973 (377,367) 592 1,384,753

savaluto

kursis zrda % 1% 1% 1% 1% 1% 1% 1% 1%

gavlena

mogebaze 12,036 9,765 (7,427) 760 11,190 8,080 (3,774) 6

savaluto

kursis kleba % -1% -1% -1% -1% -1% -1% -1% -1%

gavlena

mogebaze (12,036) (9,765) 7,427 (760) (11,190) (8,080) 3,774 (6)


saoperacio riski



2008 2007

lari aSS

dol.


dol.

evro SDR sxva sul

aqtivebi:

fuli da fuladi

ekvivalentebi - 1,001,051 357,452 - 76,087 11,434,590 - 832,736 312,157 - 425 11,145,318

moTxovnebi

sakredito

dawesebulebebis

mimarT

- 29,642 10,760 - 545 440,947 - 73,499 65,836 - 2,202 1141,537


savaluto

fondSi

- - -

20,515 -

20,515 - - -

23,533 -

23,533

gasayidad

arsebuli

fasiani

qaRaldebi

94,000 292,931 649,558 - - 11,036,489 39,704 383,443 400,247 - - 823,394

adgilobriv

komerciul

bankebze

gacemuli

sesxebi

209,412 - - - -

209,412

73,132 - - - -

73,132

dafarvis vadamde

flobili

fasiani

qaRaldebi

690,796 66,057 - - - 7756,853 738,782 118,476 35,736 - - 8892,994

sxva aqtivebi 5,054 - - 572 3 55,629 8,038 3 - - - 88,041

sul aqtivebi 999,262 1,389,681 1,017,770 21,087 76,635 3,504,435 859,656 1,408,157 813,976 23,533 2,627 3,107,949

valdebulebebi:

valdebulebebi

sakredito

dawesebulebebis

141,190 170,749 39,429 - 10 3351,278 188,113 282,796 577 - 12 4471,498

879,971 450,131

4,546 19,438

77,352 376,541

763,789 400,900

6,203 4,688

sul

valdebulebebi 1,091,477 186,103 41,253 763,789 617 2,083,139 1,025,143 289,115 6,003 400,900 2,035 1,723,196

wminda

sabalanso

pozicia

(92,215) 1,203,578 976,517 (742,702) 76,018 1,421,296 (165,487) 1,119,042 807,973 (377,367) 592 1,384,753

savaluto

kursis zrda %

gavlena

mogebaze 12,036 9,765 (7,427) 760 11,190 8,080 (3,774) 6

savaluto

kursis kleba %

gavlena

mogebaze (12,036) (9,765) 7,427 (760) (11,190) (8,080) 3,774 (6)


saoperacio riski

saoperacio riskidan warmoSobili zarali gamomdinareobs sistemebis mwyobridan gamosvlidan,

Secdomebidan, TaRliTobidan Tu sxva gareSe faqtorebidan. saTanado kontrolis ararsebobis

SemTxvevaSi, saoperacio riskma SesaZloa uaryofiTi gavlena moaxdinos reputaciaze, gamoiwvios

sakanonmdeblo sanqciebi an finansuri zarali. bankis mier yvela saoperacio riskis aRmofxvra

SeuZlebelia, Tumca banki marTavs riskebs kontrolis sistemisa da potenciuri riskebis monitoringisa

da maTze reagirebis meSveobiT. kontrolis sistema moicavs movaleobaTa saTanadod ganawilebas,

xelmisawvdomobis, avtorizaciisa da Tanxvedris procedurebs, TanamSromelTa swavlebisa da Sefasebis

procesebs, amasTanave Sida auditis gamoyenebas.

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba



2008 2007

lari aSS

dol.


dol.

evro SDR sxva sul

aqtivebi:

1,434,590 1,145,318

40,947 141,537

20,515

23,533

1,036,489 823,394

209,412

73,132

756,853 892,994

5,629 8,041

sul aqtivebi 999,262 1,389,681 1,017,770 21,087 76,635 3,504,435 859,656 1,408,157 813,976 23,533 2,627 3,107,949

valdebulebebi:

351,278 471,498



2008 2007

lari aSS

dol.


dol.

evro SDR sxva sul

aqtivebi:

1,434,590 1,145,318

40,947 141,537

20,515

23,533

1,036,489 823,394

209,412

73,132

756,853 892,994

5,629 8,041

sul aqtivebi 999,262 1,389,681 1,017,770 21,087 76,635 3,504,435 859,656 1,408,157 813,976 23,533 2,627 3,107,949

valdebulebebi:

351,278 471,498

3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba 3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


finansuri angariSgeba 3 Tveze

naklebi

3-dan 12

Tvemde

1-dan 5

wlamde

5 welze

meti

anusazRvreli

vada sul

42,005

83,745


sabazro riski

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba

2008 2007

valuta saprocento

ganakveTis zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


zrda

realuri sabazro

Rirebulebis

mgrZnobeloba


25. finansuri instrumentebis realuri Rirebuleba (gagrZeleba)

kotirebuli

sabazro fasi

2008

Sefasebis teqnika-

bazarze arsebuli

monacemebi

2008

Sefasebis teqnika-

bazarze

ararsebuli

monacemebi

2008

sul

2008

finansuri aqtivebi

1,008,546 - 784,796 1,793,342

finansuri

valdebulebebi

- - 77,352 77,352

kotirebuli

sabazro fasi

2007

Sefasebis teqnika-

bazarze arsebuli

monacemebi

2007

Sefasebis teqnika-

bazarze

ararsebuli

monacemebi

2007

sul

2007

finansuri aqtivebi

937,902 - 778,486 1,716,388

finansuri

valdebulebebi

- - 376,541 376,541

25. finansuri instrumentebis realuri Rirebuleba

qvemoT moyvanilia bankis finansur angariSgebaSi asaxuli finansuri instrumentebis SedarebiTi analizi

sabalanso Rirebulebebisa da realuri Rirebulebebis mixedviT. cxrili moicavs mxolod finansur

aqtivebsa da valdebulebebs.

sabalanso

Rirebuleba

2008

realuri

Rirebuleba

2008

uRiarebeli

mogeba/(zarali)

2008

sabalanso

Rirebuleba

2007

realuri

Rirebuleba

2007

uRiarebeli

mogeba/(zarali)

2007

finansuri aqtivebi

fuli da fuladi

ekvivalentebi 1,434,590 1,434,590 - 1,145,318 1,145,318 -

moTxovnebi

sakredito

dawesebulebebis

mimarT

40,947 40,947 - 141,537 141,537 -

SDR-is angariSi ssf-

Si 20,515 20,515 - 23,533 23,533 -

gasayidad arsebuli

fasiani qaRaldebi 1,036,489 1,036,489 - 823,394 823,394

adgilobriv

komerciul bankebze

gacemuli sesxebi

209,412 209,412 - 73,132 73,132 -

dafarvis vadamde

flobili fasiani

qaRaldebi

756,853 620,744 (136,109) 892,994 701,986 (191,008)

sxva aqtivebi 5,629 5,629 - 8,041 8,041 -

finansuri

valdebulebebi

valdebulebebi

sakredito

dawesebulebebis

mimarT

351,378 351,378 - 471,498 471,498

-

valdebulebebi

saqarTvelos

finansTa

saministros mimarT

879,971 879,971 - 450,131 450,131

-

valdebulebebi

meanabreTa mimarT 4,546 4,546 - 19,438 19,438 -

gamoSvebuli

sadepozito

serTifikatebi

77,352 77,352 - 376,541 376,541 -

valdebulebebi ssf-s

mimarT 763,789 743,471 20,318 400,900 299,834 101,066

sxva valdebulebebi 6,203 6,203 - 4,688 4,688 -

sul uRiarebeli

cvlileba

ararealizebul

realur RirebulebaSi

(115,791)

(89,942)

qvemoT aRwerilia im finansuri instrumentebis realuri Rirebulebis gansazRvrisaTvis gamoyenebuli

meTodologia da daSvebebi, romlebic ar aris asaxuli realuri RirebulebiT finansur angariSgebaSi.

aqtivebi, romelTa realuri Rirebulebac uaxlovdeba sabalanso Rirebulebas

likviduri an moklevadiani (sam Tveze naklebi) finansuri aqtivebisa da finansuri valdebulebebisaTvis

miiCneva, rom maTi samarTliani Rirebuleba uaxlovdeba sabalanso Rirebulebas.

gasayidad arsebuli fasiani qaRaldebi

gasayidad arsebuli fasiani qaRaldebi moicavs saqarTvelos finansTa saministros mier gamoSvebul

samTavrobo obligaciebs erovnul valutaSi. vinaidan 2008 wels ar momxdara tranzaqcia, romelic

mogvcemda mtkicebulebas saqarTvelos samTavrobo obligaciebis mimdinare realuri Rirebulebis Sesaxeb,

amitom maTi realuri Rirebulebis Sesafaseblad gamoyenebul iqna diskontirebuli fuladi nakadebis

modeli.

arakotirebuli fasiani qaRaldebis realuri Rirebulebis Sesafaseblad gamoyenebul iqna 2008 wlis 31

dekembris mdgomareobiT arsebuli bankis refinansirebis saprocento ganakveTi – 8%.




sabalanso

Rirebuleba

2008

realuri

Rirebuleba

2008

uRiarebeli

mogeba/(zarali)

2008

sabalanso

Rirebuleba

2007

realuri

Rirebuleba

2007

uRiarebeli

mogeba/(zarali)

2007

finansuri aqtivebi

finansuri

valdebulebebi

sul uRiarebeli

cvlileba

ararealizebul

realur RirebulebaSi

(115,791)

(89,942)



fiqsirebuli ganakveTis mqone finansuri instrumentebi

amortizirebuli RirebulebiT asaxuli fiqsirebuli ganakveTis mqone finansuri aqtivebisa da

valdebulebebis realuri Rirebuleba gamoiTvleba Tavdapirveli aRiarebisas msgavsi finansuri

instrumentebis sabazro saprocento ganakveTebis SedarebiT maT mimdinare sabazro saprocento

ganakveTebTan. fiqsirebuli saprocento ganakveTis mqone depozitebis savaraudo realuri Rirebuleba

efuZneba diskontirebul fulad nakadebs, aqtiuri fuladi bazris saprocento ganakveTebis gamoyenebiT

sesxebisaTvis, romelTac gaaCniaT msgavsi sakredito riskebi da vadianoba. kotirebuli savalo fasiani

qaRaldebisaTvis realuri Rirebuleba gamoiTvleba kotirebuli sabazro fasiT. rodesac kotirebuli

sabazro fasis gansazRvra ver xerxdeba, gamoiyeneba diskontirebuli fuladi nakadebis modeli, romelic

efuZneba mimdinare saprocento ganakveTis grafiks narCeni vadis Sesabamisad.

realuri RirebulebiT aRricxuli finansuri instrumentebi

winamdebare cxrili asaxavs samarTliani RirebulebiT aRricxuli im finansuri instrumentebis analizs,

romelTa realuri Rirebulebac efuZneba kotirebul sabazro fass, romelTaTvisac gamoyenebulia

bazarze arsebuli an bazarze ararsebuli Sefasebis teqnika.

rigi finansuri instrumentebisa aRricxulia realuri RirebulebiT Sefasebis teqnikis gamoyenebiT maSin,

rodesac ar arsebobs mimdinare sabazro operaciebi an sabazro monacemebi. maTi realuri Rirebuleba

gansazRvrulia Sefasebis modeliT, romlis Semowmeba moxda mimdinare sabazro operaciebTan mimarTebaSi

bankis yvelaze sarwmuno daSvebebis gamoyenebiT.

kotirebuli

sabazro fasi

2008

Sefasebis teqnika-

bazarze arsebuli

monacemebi

2008

Sefasebis teqnika-

bazarze

ararsebuli

monacemebi

2008

sul

2008

finansuri aqtivebi

gasayidad arsebuli

fasiani qaRaldebi 942,489 - 94,000 1,036,489

dafarvis vadamde

flobili

sainvesticio

fasiani qaRaldebi 66,057

- 690,796 756,853

1,008,546 - 784,796 1,793,342

finansuri

valdebulebebi

gamoSvebuli

sadepozito

serTifikatebi - - 77,352 77,352

- - 77,352 77,352

kotirebuli

sabazro fasi

2007

Sefasebis teqnika-

bazarze arsebuli

monacemebi

2007

Sefasebis teqnika-

bazarze

ararsebuli

monacemebi

2007

sul

2007

finansuri aqtivebi

gasayidad arsebuli

fasiani qaRaldebi 783,690 - 39,704 823,394

dafarvis vadamde

flobili

sainvesticio

fasiani qaRaldebi 154,212 - 738,782 892,994

937,902 - 778,486 1,716,388

finansuri

valdebulebebi

gamoSvebuli

sadepozito

serTifikatebi - - 376,541 376,541

- - 376,541 376,541


sabalanso

Rirebuleba

2008

realuri

Rirebuleba

2008

uRiarebeli

mogeba/(zarali)

2008

sabalanso

Rirebuleba

2007

realuri

Rirebuleba

2007

uRiarebeli

mogeba/(zarali)

2007

finansuri aqtivebi

finansuri

valdebulebebi

sul uRiarebeli

cvlileba

ararealizebul

realur RirebulebaSi

(115,791)

(89,942)




27. dakavSirebul mxareTa garigebebi

2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

31 dekembris

mdgomareobiT

dasafari sesxebi,

wminda 3 335 1,925 2,263 3 575 2,377 2,955

- 23 128 151 - 14 131 145

- - - - - - - -

26.Mfinansuri aqtivebisa da valdebulebebis vadianobis analizi

winamdebare cxrilSi moyvanilia finansuri aqtivebisa da valdebulebebis analizi imis mixedviT, Tu

rodis aris mosalodneli maTi amoReba an dafarva.

2008 2007

erTi wlis

manZilze

erT welze

meti sul

erTi wlis

manZilze

erT welze

meti sul

finansuri aqtivebi

fuli da fuladi

ekvivalentebi 1,434,590 - 1,434,590 1,040,750 104,568 1,145,318

moTxovnebi sakredito

dawesebulebebis mimarT 40,947 - 40,947 81,924 59,613 141,537

SDR-is angariSi saerTaSoriso savaluto

fondSi

20,515 - 20,515 23,533 - 23,533

gasayidad arsebuli

fasiani qaRaldebi 834,218 202,271 1,036,489 469,001 354,393 823,394


bankebze gacemuli

sesxebi

209,412 - 209,412 73,132 - 73,132

dafarvis vadamde

flobili fasiani

qaRaldebi

66,722 690,131 756,853 92,158 800,836 892,994

sxva aqtivebi 3,369 2,260 5,629 5,122 2,919 8,041

sul 2,609,773 894,662 3,504,435 1,785,620 1,322,329 3,107,949


valdebulebebi sakredito

dawesebulebebis mimarT 351,378 - 351,378 471,498 - 471,498

valdebulebebi


saministros mimarT

879,971 - 879,971 450,131 - 450,131

valdebulebebi meanabreTa

mimarT 4,546 - 4,546 19,438 - 19,438

gamoSvebuli sadepozito

serTifikatebi 77,352 - 77,352 376,541 - 376,541

valdebulebebi

saerTaSoriso savaluto

fondis mimarT

46,788 717,001 763,789 56,214 344,686 400,900

sxva valdebulebebi

3,444

2,759

6,203 530 4,158 4,688

sul 1,363,479 719,760 2,083,239 1,374,352 348,844 1,723,196

wminda 1,246,294 174,902 1,421,196 411,268 973,485 1,384,753

26.Mfinansuri aqtivebisa da valdebulebebis vadianobis analizi

2008 2007

erTi wlis

manZilze

erT welze

meti sul

erTi wlis

manZilze

erT welze

meti sul

finansuri aqtivebi

sul 2,609,773 894,662 3,504,435 1,785,620 1,322,329 3,107,949


2,759

6,203

sul 1,363,479 719,760 2,083,239 1,374,352 348,844 1,723,196

wminda 1,246,294 174,902 1,421,196 411,268 973,485 1,384,753





“dakavSirebuli mxaris ganmartebebis Sesaxeb” fass 24-is Tanaxmad, mxareebi iTvlebian erTmaneTTan

dakavSirebulebad, Tu ki erT-erT mxares meore mxaris gakontrolebis SesaZlebloba aqvs an meore

mxareze mniSvnelovani gavlenis moxdena SeuZlia finansuri Tu saoperacio sakiTxebis gadawyvetaze.

TiToeuli dakavSirebuli mxaris SesaZlo urTierTobis ganxilvisas, yuradReba eqceva urTierTobis

arss da ara mxolod samarTlebriv formas. saqarTvelos mTavroba da mis mflobelobaSi da misi

kontrolis qveS arsebuli dawesebulebebi moiazrebian dakavSirebul mxareebad.

dakavSirebul mxreebs SeuZliaT iseTi garigebebis ganxorcieleba, romlis ganxorcielebac

erTmaneTTan kavSiris armqone mxareebs ar SeuZliaT. aseve erTmaneTTan dakavSirebul mxareebs Soris

garigebebis vadebi, pirobebi da moculobebi gansxvavdeba erTmaneTTan kavSiris ar mqone mxareebis

mier garigebis ganxorcielebis vadebis, pirobebisa da moculobebisgan.

wlis bolos, dakavSirebul mxareTa garigebebis moculoba, daufaravi angariSebi da dakavSirebuli

xarjebi da Semosavlebi mocemuli wlisTvis Semdegnairad gamoiyureba:

2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

1 ianvris

mdgomareobiT

dasafari sesxebi,

sul 3 575 2,377 2,955 3 549 2,410 2,962

wlis ganmavlobaSi

gacemuli sesxebi - 199 2,015 2,214 - 261 1,681 1,942

sesxis dafarvebi

wlis

ganmavlobaSi - (439) (2,467) (2,906) - (235) (1,714) (1,949)

31 dekembris

mdgomareobiT

dasafari sesxebi,

sul 3 335 1,925 2,263 3 575 2,377 2,955

minus:

gaufasurebis

rezervi 31

dekembris

mdgomareobiT - - - - - - - -

31 dekembris

mdgomareobiT

dasafari sesxebi,

wminda 3 335 1,925 2,263 3 575 2,377 2,955

saprocento

Semosavali

sesxebidan - 23 128 151 - 14 131 145

- 23 128 151 - 14 131 145

gasayidad

arsebuli fasiani

qaRaldebi 39,704 - - 39,704 - - - -

wlis ganmavlobaSi

Sesyiduli

fasiani

qaRaldebi 54,296 - - 54,296 39,704 - - 39,704

gasayidad

arsebuli fasiani

qaRaldebi 31

dekembris

mdgomareobiT,

sul 94,000 - - 94,000 39,704 - - 39,704

- - - - - - - -




27. dakavSirebul mxareTa garigebebi (gagrZeleba)

2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

dafarvis vadamde

flobili fasiani

qaRaldebi 31

dekembris

mdgomareobiT, wminda 690,796 - - 690,796 738,782 - - 738,782

42,065 - - 42,065 46,424 - - 46,424

valdebulebebi

saqarTvelos

finansTa saministros

mimarT 31 dekembris

mdgomareobiT 879,971 - - 879,971 450,131 - - 450,131

valdebulebebi

meanabreTa mimarT 31

dekembris

mdgomareobiT 1,216 - - 1,216 313 - - 313

pirobiTi

valdebulebebi da

gacemuli garantiebi

sxva Semosavali


2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

gaufasurebis

rezervi 31

dekembris

mdgomareobiT

gasayidad

arsebuli fasiani

qaRaldebi 31

dekembris

mdgomareobiT,

wminda 94,000 - - 94,000 39,704 - - 39,704

saprocento

Semosavali

gasayidad

arsebuli fasiani

qaRaldebidan 9,880 - - 9,880 4,259 - - 4,259

9,880 - - 9,880 4,259 - - 4,259


2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

31 dekembris

mdgomareobiT

dasafari sesxebi,

wminda 3 335 1,925 2,263 3 575 2,377 2,955

- 23 128 151 - 14 131 145

minus: - - - - - - - -


2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

31 dekembris

mdgomareobiT

dasafari sesxebi,

wminda 3 335 1,925 2,263 3 575 2,377 2,955

- 23 128 151 - 14 131 145

- - - - - - - -

2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

gasayidad

arsebuli fasiani

qaRaldebi 31

dekembris

mdgomareobiT,

wminda 94,000 - - 94,000 39,704 - - 39,704

9,880 - - 9,880 4,259 - - 4,259


2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

31 dekembris

mdgomareobiT

dasafari sesxebi,

wminda 3 335 1,925 2,263 3 575 2,377 2,955

- 23 128 151 - 14 131 145

- - - - - - - -


kotirebuli

sabazro fasi

2008

Sefasebis teqnika-

bazarze arsebuli

monacemebi

2008

Sefasebis teqnika-

bazarze

ararsebuli

monacemebi

2008

sul

2008

finansuri aqtivebi

1,008,546 - 784,796 1,793,342

finansuri

valdebulebebi

- - 77,352 77,352

kotirebuli

sabazro fasi

2007

Sefasebis teqnika-

bazarze arsebuli

monacemebi

2007

Sefasebis teqnika-

bazarze

ararsebuli

monacemebi

2007

sul

2007

finansuri aqtivebi

937,902 - 778,486 1,716,388

finansuri

valdebulebebi

- - 376,541 376,541





2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

dafarvis vadamde

flobili fasiani

qaRaldebi, sul 738,782 - - 738,782 787,251 - - 787,251

wlis ganmavlobaSi

dafaruli fasiani

qaRaldebi (47,986) - - (47,986) (48,469) - - (48,469)

dafarvis vadamde

flobili fasiani

qaRaldebi 31

dekembris

mdgomareobiT, sul 690,796 - - 690,796 738,782 - - 738,782

minus: gaufasurebis

rezervi 31 dekembris

mdgomareobiT - - - - - - - --

dafarvis vadamde

flobili fasiani

qaRaldebi 31

dekembris

mdgomareobiT, wminda 690,796 - - 690,796 738,782 - - 738,782


dafarvis vadamde

flobili fasiani

qaRaldebidan 42,065 - - 42,065 46,424 - - 46,424

42,065 - - 42,065 46,424 - - 46,424

valdebulebebi

saqarTvelos

finansTa saministros

mimarT 31 dekembris

mdgomareobiT 879,971 - - 879,971 450,131 - - 450,131

valdebulebebi

meanabreTa mimarT 1

ianvris mdgomareobiT 313 - - 313 - - - -

wlis ganmavlobaSi

miRebuli Tanxebi 5,420 - - 5,420 1,696 - - 1,696

dafarvebi wlis

ganmavlobaSi (4,517) - - (4,517) (1,383) - - (1,383)

valdebulebebi

meanabreTa mimarT 31

dekembris

mdgomareobiT 1,216 - - 1,216 313 - - 313

pirobiTi

valdebulebebi da

gacemuli garantiebi 42,005 - - 42,005 83,745 - - 83,745

sxva Semosavali 4,274 - - 4,274 - - - -

sxva saoperacio xarji 4,130 - - 4,130 1,633 - - 1,633

2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

gasayidad

arsebuli fasiani

qaRaldebi 31

dekembris

mdgomareobiT,

wminda 94,000 - - 94,000 39,704 - - 39,704

9,880 - - 9,880 4,259 - - 4,259

2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

gasayidad

arsebuli fasiani

qaRaldebi 31

dekembris

mdgomareobiT,

wminda 94,000 - - 94,000 39,704 - - 39,704

9,880 - - 9,880 4,259 - - 4,259


2008 2007

saqarTvelos

mTavroba da

mis mier

kontrolire

-badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

saqarTvelos

mTavroba da

mis mier

kontrolire-

badi

dawesebule-

bebi

menejmentis

ZiriTadi

personali

sxva

TanamSrom-

lebi

sul

31 dekembris

mdgomareobiT

dasafari sesxebi,

wminda 3 335 1,925 2,263 3 575 2,377 2,955

- 23 128 151 - 14 131 145

- - - - - - - -





menejmentis ZiriTadi personalis kompensacia Seadgens:

2008 2007

xelfasebi da sxva moklevadiani sargebeli 1,364 1,334

SromiTi saqmianobis Semdgomi periodis gasamrjelo 64 67

socialuri gadasaxadi - 280

sul menejmentis ZiriTadi personalis kompensacia 1,428 1,681

28. sabalanso angariSgebis Sedgenis TariRis Semdgomi movlenebi

2009 wlis 26 Tebervals giorgi qadagiZe dainiSna saqarTvelos erovnuli bankis prezidentad da

saqarTvelos erovnuli bankis sabWos Tavmjdomared.

saqarTvelos erovnuli bankis monetaruli politikis komitetma Seamcira refinansirebis saprocento

ganakveTi 50 bijiT 6.5%-mde 2009 wlis 18 marts.

saqarTvelos erovnulma bankma 2009 wlis 28 marts miiRo sTend-bai SeTanxmebis 126,200 SDR-is meore tranSi saerTaSoriso savaluto fondidan.

gasayidad gankuTvnili ZiriTadi saSualebebi, garda 6.628 laris Rirebulebis Tbilissa da baTumSi

mdebare ori Senobisa, aris saqarTvelos ekonomikis saministrosTvis gadacemis procesSi.



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