Baku, Azerbaijan, June 6
By Zulfiyya Qurbanova - Trend:
As of January-April 2014, the depositary base of Azerbaijani banks increased by 9.1 percent and 19.4 percent per annum.
As of May 1, 2014, the total amount of bank deposits and deposits of physical and legal entities totaled 13.615.6 billion manats, compared to 11.405.3 billion manats as of early May 2013, according to the CBA.
Around 6.831.5 billion manats fell to cash in manats, of which 2.413 billion manats were demand deposits and 4.418.5 billion manats - term deposits. The funds in foreign currency amounted to 6.744.1 billion manats (1.920.1 billion manats and 4.864 billion manats, respectively).
The deposits of physical entities increased by 13.9 percent, while the volume of legal entities' deposits by 25 percent compared to January-April 2013. These indices increased by 2.7 percent during January-April and by 15.9 percent respectively.
As of January-April 2014, the volume of physical entities' deposits in the banks amounted 6.569.9 billion manats compared to 5.768.3 billion manats in January-April 2013.
Around 4.067 billion manats (61.9 percent) of the population's funds were placed in the national currency, the manat, while 2.502.9 billion manats went 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-April 2014, the volume of deposits of financial organizations amounted to 3.624.7 billion manats compared to 2.688.6 billion manats as of January-April 2013. The volume of deposits of non-financial organizations totaled 3.421 billion manats compared to 2.948.4 billion manats as of January-April 2013.
The deposits of legal entities totaled 7.045.7 billion manats compared to 5.637 billion manats as of January-April 2013.
There are 44 banks in Azerbaijan. Some 42 banks are members of the Azerbaijan Physical Entities' Deposit Insurance Fund.
The official exchange rate is 0.7843 AZN/USD on June 6.
edited by CN