Azerbaijan's population increases bank savings by over 27%

Azerbaijan, Baku, Dec. 29 / Trend I.Khalilova /

Over ten months of 2012 Depositary base of Azerbaijani banks increased by eight per cent, and compared to the same period in 2011 increased by 17.16 percent.

According to statistical data of the Central Bank of Azerbaijan (CBA) published on its website, at the beginning of November the total amount of bank deposits and deposits of individuals and legal entities totaled 10,202.4 million manat compared to 9447 million manat in early 2012 and 8707.8 million manat in beginning of November 2011.

Of this, 4625.5 million manat is cash in manats, of which 1804.3 million manat - deposits, 2821.2 million manat - term deposits. The funds in foreign currency amounted 5576.9 million manat (1680.7 million manat and 3896.2 million manat, respectively).

During January-October retail deposits increased by 13.8 percent, while the volume of corporate deposits - by 3.48 percent. Compared to the same period of 2011, deposits of individual customers increased by 27.6 percent, while corporate deposits - by 9.5 percent.

By early November, the volume of individual deposits in the banks amounted 4689.7 million manat compared to 4119.8 million manat in early 2012 and 3675 million manat by November 1, 2011.

By early November, the volume of deposits of financial institutions amounted 2732.5 million manat compared to 2519.5 million manat in early 2012 and 2563.4 million manat by November 1, 2011.

By early November, the volume of deposits of non-financial institutions totaled 2780.3 million manat compared to 2807.6 million manat in early 2012, and 2469.4 million manat by November 1, 2011.

Total deposits of legal entities totaled 5512.8 million manat compared to 5327.1 million manat as of early this year, and 5032.8 million manat as of November 1, 2011.

Today, 42 of the 43 banks operating in the country are members of the Azerbaijan Deposit Insurance Fund.

The official exchange rate for December 29 is 0,7850 AZN / USD.

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