Azerbaijani banks deposit base ups in May

Azerbaijan, Baku, July 2 / Trend , N.Ismayilova/

Depositary base of Azerbaijani banks 0.3 percent in May, dropped by 26.1 percent in January-Mayl and by 16.7 percent in annualized pace, the Central Bank of Azerbaijan (CBA) said.

The CBA said as of June 1, total sum of bank deposits and deposits by juridical entities and individuals hit 3215.3 billion manat compared to 3205.4 billion manat in May 2009 and 4348.5 billion manat in January 2009 and 3857.9 million manat in early June 2008. About 1414.5 million accounted for manat and 1800.8 million manat for currency.

In May, deposits by individuals dropped 1.1 percent and juridical entities - increased 2.3 percent. The reduction of deposits by individual clients hit 3.1 percent and corporative clients - 43.9 percent in January-May 2009. Deposits by individuals increased by 15.1 percent, while deposits by corporative clients dropped by 39.2 percent in the annualized pace.

As of early June, the deposits of individuals hit 1.844 million manat from the previous 1.865 billion manat in May 1 and 1.903 million manat in January and 1.603 million in June 1, 2008.

Deposits of legal entities totaled 1.370 billion manat in early May compared to 1.339 billion manat as of May 1 and 2.444 billion manat as of January 1 and 2.254 million manat as for June 1, 2008.

As of June 1, the deposits by individuals in national currency hit 692.5 million manat and 1.152 million manat in hard currency, by juridical entities - 722 million manat and 648.4 million manat in hard currency.

On July 2, the official exchange rate is 0.8042 manat to $1.

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