Azerbaijan, Baku, June 22 / Trend N. Ismayilova /
Azerbaijani Bank Respublika will not change its deposit policy, Bank Respublika's board chairman Akshin Amirov said.
"Growth of deposit portfolio of the bank hits 3-4 million manat. So, there is no necessity in changing deposit policy of the bank," Amirov said.
Average rate on the bank's deposits hits 14 percent.
As of June 1, 2009 amount of funds on Bank Respublika clients' accounts exceeded 151.1 million manat given annual growth 14 percent. Funds of physical entities of Bank Respublika exceeded 12.1 percent compared to the same period of 2008 up to 89.6 million manat. As of accounting period, amount of population's deposits increased 21 percent exceeding 75 million manat compared to 62.1 million manat within the corresponding period of 2008.
Bank Respublika launched its activity in 1992. Shareholders of the bank include two biggest financial organizations of Germany - DEG, member of KfW bank group and SIDT, member of Sparkassen-Finanzgruppe having shares of the bank in the amount of 25 percent + 1 share. Roughly 32 branches and departments of Bank Respublika operate in Baku and regions of the country.
On June 22, the official exchange rate is 0.804 manat to $1.
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