Baku, Azerbaijan, April 11
By Emin Aliyev - Trend
As of Jan.-Feb. 2014, the depositary base of Azerbaijani banks increased by 23.7 percent, according to the statistics report of the Azerbaijani Central Bank.
As of March 1, 2014, the total amount of bank deposits and deposits of physical and legal entities totaled 12.926.6 billion manat, compared to 10.446.9 billion manat as of early March 2013, according to the CBA.
Around 6.623.3 billion manat fell to cash in manats, of which 2.476.6 billion manat were demand deposits and 4.146.7 billion manat - term deposits. The funds in foreign currency amounted to 6.303.3 billion manat (1.505.3 billion manat and 4.798 billion manat, respectively).
The deposits of physical entities increased by 21.7 percent, while the volume of legal entities' deposits by 25.9 percent compared to Jan.-Feb. 2013.
As of Jan.-Feb. 2014, the volume of physical entities' deposits in the banks amounted 6.591.7 billion manat compared to 5.416.8 billion manat in Jan.-Feb. 2013.
Around 4.028.5 billion manat (61.1 percent) of the population's funds were placed in the national currency, the manat, while 2.563.2 billion manat in freely convertible currency, according to the Central Bank. The Azerbaijani population's deposits in the national currency in the banks have prevailed over those in foreign currency since 2012.
As of January-February 2014, the volume of deposits of financial institutions amounted to 3.520.4 billion manat compared to 2.613.6 billion manat as of January-February 2013.
The volume of deposits of non-financial institutions totaled 2.814.6 billion manat compared to 2.416.5 billion manat as of January-February 2013.
The total deposits of legal entities totaled 6.335 billion manat compared to 5.030.1 billion manat as of January-February 2013.
There are 43 banks in Azerbaijan, 42 of them - are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate is 0.7844 AZN/USD on April 11.
Translated by NH
Edited by CN