Azerbaijani banks’ depositary base increases by almost 20 percent
Baku, Azerbaijan, Jan. 14
By Emin Aliyev - Trend:
As of January-November 2013, the depositary base of Azerbaijani banks increased by 16.2 percent and by 19.4 percent per annum, the Azerbaijani Central Bank's (CBA) statistics report said.
According to the CBA, as of Dec. 1, the total amount of bank deposits and deposits of physical and legal entities totaled 12.432.7 billion manat compared to 10.409.9 billion manat in the same period of 2012 and 10.699.2 billion manat as of early 2013.
Around 6.197.8 billion manat was cash in manat, of which 2.229.9 billion manat - demand deposits, 3.967.9 billion manat - term deposits. The funds in foreign currency amounted to 6.234.9 billion manat (1.716.4 billion manat and 4.518.5 billion manat, respectively).
Compared to the same period of 2012, deposits of physical entities increased by 34.8 percent, while the volume of legal entities' deposits slightly increased by 6.48 percent.
As of January-November 2013, the volume of physical entities' deposits in the banks amounted 6.419.6 billion manat compared to 4.763 billion manat in the same period of 2012.
According to the Central Bank, around 3.955.5 billion (61.6 percent) of the population's funds were placed in the national currency - manat, while 2.464.1 billion manat was in freely convertible currency.
The Azerbaijani population's deposits in the national currency in the banks prevailed over those in foreign currency in 2013. For comparison, around 2.804.6 billion manat of the population's funds were placed in the national currency - manat, while 1.958.4 billion manat - in freely convertible currency in the first eleven months of 2012.
As of January-November 2013, the volume of deposits of financial institutions amounted 3.250.1 billion manat compared to 2.752.3 billion manat in the same period of 2012.
The volume of deposits of non-financial institutions totaled 2.762.9 billion manat compared to 2.894.6 billion manat as of January-November 2012.
Total deposits of legal entities totaled 6.013 billion manat compared to 5.646.9 billion manat in the same period of 2012.
Some 43 banks are operating in Azerbaijan. Around 42 banks are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate is 0.7844 AZN/USD on Jan. 14.
translated by NH
edited by CN