Over 20% of population’s deposits account for districts of Azerbaijan
Baku, Azerbaijan, Sept. 4
By Azad Hasanli - Trend:
The population's deposits, attracted by Azerbaijani banking system from the country's districts (with the exception of Baku), stood at 551.72 million AZN in Jan.-August 2014, or 7.9 percent of total bank deposits, according to a report from Azerbaijan's Central Bank (CBA).
The CBA report covered the first eight months of 2014.
In Baku, the deposits totalled 6.441.08 billion AZN, while some 4.017.2 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 district (167.97 million AZN, the average rate - 8.6 percent per annum) is leading in terms of attracting deposits from the population.
During this period, the volume of deposits in Mountainous Shirvan district totalled 16.3 million AZN at a rate of 5.9 percent, Ganja-Gazakh district - 65.38 million AZN at a rate 5.7 percent, Guba-Khachmaz district - 21.5 million AZN at a rate of 6.3 percent, Lankaran district - 45.5 million AZN at a rate of 7.3 percent, Shaki-Zagatala district - 23.4 million AZN at a rate of 5.5 percent, Upper Karabakh district - 13.7 million AZN at a rate of 3.9 percent, Kalbajar-Lachin district - 7.5 million AZN at a rate of 4.8 percent, Nakhchivan district - 20.65 million AZN at an average rate of 4.2 percent.
There are 44 banks in Azerbaijan, 42 of which are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate for Oct. 3 is 0.7844 AZN/USD.