Azerbaijani banks’ liabilities up by $1.2 bln from early 2011

Azerbaijan, Baku, Nov. 12 / Trend N. Ismayilova /

The liabilities of Azerbaijani banks increased by 10.4 percent or 1.007.4 billion manat during three quarters of the year. The figure totaled 11.22 billion manat at the end of the reporting period, the Central Bank of Azerbaijan (CBA) report on financial stability said.

The deposits of legal and physical entities preserved a role of the main source in the formation of the resource base of Azerbaijani banks during the reporting period.
The total deposit base of banks increased by 14.6 percent and reached 8.74 billion manat compared to early 2011. The share of deposits in total structure of liabilities was 77.9 per cent compared to 65.9 per cent as of October 1, 2010.

The volume of legal entities' deposits increased by 6.9 percent and reached 2.59 billion manat. The legal entities' deposits increased by 35 percent during a year. Their share in total deposits amounted to 29.7 percent.
As of early October, the share of the population's deposits in bank liabilities made up 32.3 percent compared to 27.4 percent in early October 2010. The volume of deposits increased by 19.6 percent within three quarters of the year and by 29.5 percent during the year. The figure hit 3.62 billion manat.

The growth rates of urgent deposits exceeded the rate of demand deposits for three quarters of this year.
The deposits on the current accounts increased by 3.4 percent for nine months. Urgent deposits increased by 21.6 percent. The share of urgent deposits in total volume of deposits reached 34 percent.

The growth rate of deposits attracted by Azerbaijani banks from non-resident individuals was 15.9 percent. The funds raised from non-residents (except for physical entities) increased by 3.5 percent and reached 1.9 billion manat during January-September, and their share in total volume of liabilities was 17.1 percent.
The official exchange rate is 0,7866 manat to $1.

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