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Over seven percent of Azerbaijani population’s deposits account for regions in 2013

Business Materials 9 February 2014 12:57 (UTC +04:00)

Baku, Azerbaijan, Feb. 9

By Emin Aliyev - Trend:

The population's deposits, attracted to Azerbaijan's banking system from the country's regions (except for Baku), stood at 476.2 million manat (or at 7.4 percent of total bank deposits) in 2013.

In Baku the volume of deposits stood at 5.919.6 billion manat, while the deposits in national currency accounted for 3.519.9 billion manat, according to the statistics report from the Central Bank of Azerbaijan (CBA). The average interest rate in the country totaled 8.3 percent as in Baku during the reporting period.

The amount of deposits in Absheron economic region totaled 161.5 million manat at an average rate of nine percent, Aran economic region - 135.5 million manat at a rate of 7.6 percent, Mountain-Shirvan - 13.3 million manat - 6.3 percent, Ganja-Gazakh - 51.7 million manat - 5.7 percent, Guba-Khachmaz - 16.3 million manat - 6.8 percent, Lankaran - 40.4 million manat - 7.8 percent, Sheki-Zagatala - 19 million manat - 6.1 percent, Upper Karabakh - 9.9 million manat - 5.43 percent, Kalbajar-Lachin - 6.1 million manat - 5.4 percent, Nakhchivan - 22.5 million manat at an average rate of 3.2 percent.

There are 43 banks in Azerbaijan, of which 42 banks are members of the Azerbaijan Deposit Insurance Fund. The branch network of the banks increased up to 700 (45 branches) as of the year.

The official exchange rate is 0.7843 AZN/USD on Feb. 9.

Translated by N.H.

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