Population’s deposits to biggest Azerbaijani bank up by 40 percent
Azerbaijan, Baku, Feb. 16 / Trend N. Ismayilova /
The population has invested 252 million manat in the International Bank of Azerbaijan (IBA) in 2011, the bank reported on Thursday.
As of Jan. 1, the population's deposits to the IBA increased by 40 percent to 968.996 million manat.
"It should be noted that the population's deposits to the IBA hit $50 million in 2002," a statement said.
The International Bank of Azerbaijan is a quasi-bank. Its main shareholder is the Azerbaijani government, which owns 50.2 percent stake, while 49.8 percent of the share are owned by private physical and legal entities.
The official exchange rate is 0.7861 AZN/USD on Feb. 16.