Baku, Azerbaijan, Jan. 5
By Maksim Tsurkov - Trend:
As of January-November 2014, the depositary base of Azerbaijani banks increased by 20.7 percent and 23.16 percent per annum, according to the Azerbaijani Central Bank's report as of 11 months of 2014.
As of December 1, 2014, the total amount of bank deposits and deposits of physical and legal entities totaled 15.312 billion AZN compared to 12.432 billion AZN as of early December 2013, according to the CBA.
Around 7.643 billion AZN fell to cash, 2.484 billion AZN were demand deposits, and 5.158 billion AZN term deposits. The funds in foreign currency amounted to 7.669 billion AZN (2.048 billion AZN and 5.620 billion AZN, respectively).
The deposits of physical entities increased by 10.39 percent, while the volume of legal entities' deposits by 36.8 percent compared to January-November 2013. These indexes increased by 9.84 percent within 10 months and by 32 percent respectively.
As of January-November 2014, the volume of physical entities' deposits in the banks amounted 7.086 billion AZN compared to 6.419 billion AZN in January-November 2013.
Around 4.482 billion AZN of the population's funds were placed in the national currency, while 2.604 billion AZN 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-November 2014, the volume of deposits of financial organizations amounted to 4.131 billion AZN compared to 3.250 billion AZN as of January-November 2013. The volume of deposits of non-financial organizations totaled 4.094 billion AZN compared to 2.762 billion AZN as of January-November 2013.
The total volume of deposits of legal entities totaled 8.225 billion AZN compared to 6.013 billion AZN as of December 1, 2013.
There are 44 banks in Azerbaijan, 42 of which are members of the Azerbaijan Deposit Insurance Fund.
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edited by CN