Azerbaijani banks’ depositary base increases by nearly 20%
Baku, Azerbaijan, Mar. 6
By Azad Hasanli - Trend:
As of January 2015, the depositary base of Azerbaijani banks increased by 19.33 percent, according to the Azerbaijani Central Bank's report on the results of January 2015.
As of February 1, 2015, the total amount of bank deposits and deposits of physical and legal entities totaled 15.134,7 billion manats compared to 12.683 billion manats as of early February 2014, according to the CBA.
Around 7.330 billion manats fell to cash, 2.456,9 billion manats were demand deposits, and 4.873,1 billion manats term deposits. The funds in foreign currency amounted to 7.805 billion manats (1.821,6 billion manats and 5.983,4 billion manats, respectively).
The deposits of physical entities increased by 10.38 percent, while the volume of legal entities' deposits by 28.6 percent compared to January 2014.
As of January 2015, the volume of physical entities' deposits in the banks amounted 7.121,3 billion manats compared to 6.451,4 billion manats in early February 2014.
Around 4.276,3 billion manats (60.05 percent) of the population's funds were placed in the national currency(a 3.3 percent decrease compared to the previous month), while 2.845 billion manats in freely convertible currency (a 2.9 percent growth), 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 2015, the volume of deposits of financial organizations amounted to 4.246,9 billion manats compared to 3.383,4 billion manats as of January 2014. The volume of deposits of non-financial organizations totaled 3.766,7 billion manats compared to 2.848,2 billion manats as of January 2014.
The total volume of deposits of legal entities totaled 8.013,6 billion manats compared to 6.231,6 billion manats 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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