Azerbaijani population of increases savings in banks by 36 percent
Azerbaijan, Baku, Feb. 13 / Trend N. Ismayilova /
As of Jan. 1, 2011, the total amount of deposits of physical and legal entities in Azerbaijani banks amounted to 6.639.3 billion manat, the CBA said on Saturday.
Including deposits of non-residents and state agencies, the figure was 9.447.0 billion manat, which is more by 23.9 percent compared 2010.
As of Dec.1, 2011, the deposit base of Azerbaijani banks hit 8.892.8 billion manat, as of Jan., 2011 - 7.625.8 billion manat.
As of Jan.1, 2012, the volume of physical entities' deposits in banks in Azerbaijan amounted to 4.119.8 billion manat, which is 36 percent more compared to the same period of 2011 (3.029.8 billion manat).
Some 2.281.6 billion manat (55.4 percent) of the population were placed in the national currency - manat, 1.838.1 billion manat - in hard currency.
There was a situation when cash deposits of Azerbaijan's population in the national currency exceeds cash deposits in foreign currency in December, as well as in November and August.
The volume of physical entities' deposits in banks in Azerbaijan amounted to 3.660.7 billion manat, of which 1.837.7 billion manat (50.2 percent) were placed in the national currency - manat, 1.823 billion manat - in freely convertible currency, in November - 1.970.1 billion manat (51.4 percent) were placed by the population in the national currency - manat, 1.859.9 billion manat - in hard currency.
About 76 percent of the population's deposits are in accounts of private banks.
Deposits of the population, drawn to the banking system from the Azerbaijani regions (areas of the country, except for Baku), as of January 1, 2012 amounted to 327.5 million manat or 7.9 percent of total volume of bank deposits.
The volume of deposits on Baku amounted to 3.792.1 billion manat, while the deposits in national currency hit 2.038.9 billion manat, currency - 1.753.2 billion manat.
The average interest rate for the country during the reporting period amounted to 8.9 percent, Baku - 9.0 percent.
The amount of deposits on Absheron economic region amounted to 107.1 million manat, with an average rate of 9.6 percent, Aran - 53.6 million manat at 4.9 percent, the Mountain-Shirvan - 6.7 million manat at 7.3 percent, Ganja -Gazakh - 63.0 million manat at 7.5 percent, Guba-Khachmaz - 25.7 million manat at 7.1 percent, Lankaran - 23.1 million manat at 7.5 percent, Sheki-Zagatala - 20.8 million manat at 6.2 percent, the Upper Karabakh - 5.7 million manat at 4.4 percent, Kalbajar-Lachin - 1.4 million manat at 6.2 percent, Nakhchivan - 20.4 million manat at 3.3 percent.
In 2011 the volume of legal entities' deposits amounted to 2.519.5 billion manat, of which 677.9 million manat were invested in the national currency, 1.841.6 billion manat - in foreign currency.
The volume of deposits of legal entities in 2011 increased by 15.7 percent compared to 2010 (2.177.0 billion manat).
The official exchange rate is 0,7863 AZN/USD on Feb. 11.