Banks increase deposit attraction by more than 12% in Azerbaijani districts
Baku, Azerbaijan, Nov. 28
By Azad Hasanli - Trend:
The population's deposits, attracted to Azerbaijan's banking system from the country's districts (except for Baku), totaled 535.3 million AZN in January-October 2014, or 8 percent of the total bank deposits.
The figure increased by 12.55 percent compared to the same period of last year, according to the report of the Central Bank of Azerbaijan for the first ten months of 2014.
The volume of deposits in Baku was 6.470 billion AZN, while some 4.027 billion AZN accounted for the deposits in the national currency.
In this period, the average interest rate throughout the country hit 8 percent, and 8.1 percent - in Baku.
Thus, Baku is still the leader on such indices as attracting the population's deposits by the banks.
Among Azerbaijan's districts, the Absheron economic district (166.03 million AZN, the average rate of 8.6 percent per annum) is leading in terms of attracting the population's deposits.
In the mentioned period the volume of deposits in the Aran economic district totaled 164.82 million AZN at an average rate of 7.4 percent, Mountainous Shirvan - 15.9 million AZN at a rate of 6 percent, Ganja-Gazakh - 61.9 million AZN at a rate 5.9 percent, Guba-Khachmaz - 20.68 million AZN at a rate of 6.5 percent, Lankaran - 43.62 million AZN - the rate of 7.3 percent, Sheki-Zagatala - 23.66 million AZN - the rate of 5.4 percent, Upper Karabakh - 12.12 million AZN - 4.3 percent, Kalbajar-Lachin - 6.7 million AZN - 5.3 percent, Nakhchivan - 19.8 million AZN - the average rate of 4.3 percent.
There are 44 banks in Azerbaijan, 42 of which are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate is 0.7844 AZN/USD Nov. 28.
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edited by CN