About 8% of population’s deposits account for regions of Azerbaijan

Business Materials 4 September 2014 19:34 (UTC +04:00)

Baku, Azerbaijan, Sept. 4

By Zulfiyya Gurbanova - Trend:

The population's deposits, attracted by Azerbaijani banking system from the country's regions (with the exception of Baku), stood at 535.55 million AZN ​​in Jan.-July 2014, or 7.72 percent of total bank deposits, according to a report from Azerbaijan's Central Bank (CBA).

The CBA report covered the first seven months of 2014.

In Baku, the deposits totalled 6404.5 million AZN, while some 3.991 billion AZN accounted for the deposits in national currency.

The average interest rate in the country and in Baku amounted to eight percent during the reporting period.

Thus, Baku remained a leader in terms of the deposits attracted by the banks.

Among districts, the Absheron Economic Region (171.05 million AZN, the average rate - 8.5 percent per annum) is leading in terms of attracting deposits from the population.

During this period, the volume of deposits in Aran Economic Region totalled 163.2 million AZN at an average rate of 7.4 percent, Mountainous Shirvan Region - 18.84 million AZN at a rate of 5.5 percent, Ganja-Gazakh Region - 60.34 million AZN at a rate 5.9 percent, Guba-Khachmaz Region - 16.4 million AZN at a rate of 7.2 percent, Lankaran Region - 41.8 million AZN at a rate of 7.2 percent, Shaki-Zagatala Region - 23.6 million AZN at a rate of 5.7 percent, Upper Karabakh Region - 11.4 million AZN at a rate of 4.3 percent, Kalbajar-Lachin Region - 8.4 million AZN at a rate of 4.5 percent, Nakhchivan Region - 20.53 million AZN at an average rate of 4.3 percent.

The official exchange rate for Sept. 4 is 0.7843 AZN/USD.

Edited by CN