Baku, Azerbaijan, Aug. 6
Trend:
As of January-June 2014, the depositary base of Azerbaijani banks increased by 12.15 percent and 22.73 percent per annum, according to the Azerbaijani Central Bank's report as of January-June, 2014.
As of July 1, 2014, the total amount of bank deposits and deposits of physical and legal entities totalled 13.991.4 billion manat, compared to 11.399.9 billion manat as of early July 2013, according to the CBA.
Around 7.083.9 billion manat fell to cash in manats, of which 2.416.5 billion manat were demand deposits and 4.667.4 billion manat - term deposits. The funds in foreign currency amounted to 6.907.5 billion manat (1.492 billion manat and 5.415.5 billion manat, respectively).
The deposits of physical entities increased by 13.5 percent, while the volume of legal entities' deposits by 32.7 percent compared to January-June 2013. These indices increased by 5.1 percent during January-June and by 19.6 percent respectively.
As of January-June 2014, the volume of physical entities' deposits in the banks amounted 6.720.6 billion manat compared to 5.922.2 billion manat in January-June 2013.
Around 4.198.3 billion manat (62.5 percent) of the population's funds were placed in the national currency, the manat, while 2.522.4 billion manat in freely convertible currency, according to the Central Bank. The Azerbaijani population's deposits in the national currency in the banks have prevailed over those in foreign currency since 2012.
As of January-June 2014, the volume of deposits of financial organizations amounted to 4.091.4 billion manat compared to 2.827.2 billion manat as of January-June 2013. The volume of deposits of non-financial organizations totalled 3.179.4 billion manat compared to 2.650.5 billion manat as of January-June 2013.
The total volume of deposits of legal entities totalled 7.270.8 billion manat compared to 5.477.7 billion manat as of January-June 2013.
There are 44 banks in Azerbaijan, 42 of which are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate is 0.7843 AZN/USD on Aug. 6.