Baku, Azerbaijan, Oct. 14
By Anvar Mammadov - Trend:
The deposits of population attracted to the Azerbaijani banking system from the districts of the country (except Baku), amounted to 552.8 million manats in January-August 2015, or 7.5 percent of total bank deposits, said the report of the Central Bank of Azerbaijan (CBA) for the first eight months of 2015, said the bank's message.
During this period, the amount of deposits on Baku amounted to 6.767.54 billion manats, while the deposits in national currency accounted for 1.577.52 billion manats, the message said.
After the devaluation of the manat by almost 34 percent, which occurred on February 21, a tendency of reducing the volumes of deposits in the banking system is observed in Azerbaijan. During August, the portfolio of bank deposits of the population living in districts of the country fell by 5.87 percent.
At the same time, unlike the situation in Baku, most of the population in the districts of the country still holds its funds in manats. Thus, in the reporting period, the volume of savings of residents of the districts of Azerbaijan in foreign currency amounted to 245.5 million manats (44.4 percent of total deposits in the districts).
Gradual increase has been observed in the volume of bank deposits in freely convertible currency beyond Baku since early 2015. The share of the population's bank deposits in freely convertible currency in Azerbaijan's regions stood at 24.2 percent in early 2015 and rose to 49 percent in July. However, the share of the bank deposits dropped by 4.6 percentage points throughout August.
The average annual rate throughout the country and Baku totaled 8 percent as of August 2015.
Absheron economic region remains leader among the regions for the volume of attracted bank deposits of the population (168.22 million manats; average rate per annum - 8.5 percent).
During the reporting period, the volume of deposits in Aran economic region totaled 87.28 million manats with average rate of 6.4 percent, Mountainous Shirvan - 11.51 million manats (6.8 percent), Ganja-Gazakh - 135.07 million manats (7.9 percent), Guba-Khachmaz - 37.25 million manats (6.6 percent), Lankaran - 38.23 million manats (7.75 percent), Sheki-Zagatala - 34.01 million manats (6.3 percent), the Upper Karabakh - 16.89 million manats (5.2 percent), Kalbajar-Lachin - 2.13 million manats (5.6 percent), Nakhchivan - 22.22 million manats (4.7 percent).
Edited by SI
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