Azerbaijani banks’ depositary base increases by over 20% during a year
Baku, Azerbaijan, Feb. 6
By Azad Hasanli - Trend:
In 2014, the depositary base of Azerbaijani banks increased by 23.87 percent, according to the Azerbaijani Central Bank's report on the results of 2014.
As of January 1, 2015, the total amount of bank deposits and deposits of physical and legal entities totaled 15.453,4 billion AZN compared to 12.475,8 billion AZN as of early January 2014, according to the CBA.
The official exchange rate on February 6 is 0, 7844 AZN / USD.
Around 7.743,5 billion AZN fell to cash, 2.734,4 billion AZN were demand deposits, and 5.009,1 billion AZN term deposits. The funds in foreign currency amounted to 7.709,8 billion AZN (1.798, 8 billion AZN and 5.911 billion AZN, respectively).
The deposits of physical entities increased by 12.39 percent, while the volume of legal entities' deposits by 35.9 percent compared to 2013.
On the results of 2014, the volume of physical entities' deposits in the banks amounted 7.188,4 billion AZN compared to 6.395,8 billion AZN in 2013.
Around 4.422,4 billion AZN (61.52 percent) of the population's funds were placed in the national currency, while 2.766 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.
On the results of 2014, the volume of deposits of financial organizations amounted to 4.298,1 billion AZN compared to 3.261,5 billion AZN on the results of 2013. The volume of deposits of non-financial organizations totaled 3.966,9 billion AZN compared to 2.818,4 billion AZN on the results of 2013.
The total volume of deposits of legal entities totaled 7.265 billion AZN compared to 6.079,9 billion AZN as of January 1, 2014.
There are 45 banks in Azerbaijan, 43 of which are members of the Azerbaijan Deposit Insurance Fund.
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