Volume of insured deposits increases in Azerbaijan
Baku, Azerbaijan, Nov. 11
By Anvar Mammadov – Trend:
The volume of insured deposits in the member banks of Azerbaijan Deposit Insurance Fund (ADIF) amounted to 5.3 billion Azerbaijani manats (1.6869 AZN/USD on Nov. 11) on the results of the 3Q2016, ADIF Executive Director Azad Javadov told Trend.
Javadov said that this volume accounts for 72.6 percent of the total volume of deposits in the ADIF member banks.
“According to the results of three quarters of 2016, total volume of deposits in the member banks amounted to 7.3 billion manats,” he noted.
There hasn’t been a significant change in the volume of deposits in the banks as compared to January-September 2015 (7.34 billion manats), while the amount of insured deposits increased by 5.2 percent – from 5.04 billion to 5.3 billion manats.
Javadov said also that the volume of compensated deposits accounted for more than 60 percent of the total volume of deposits during the reporting period.
“The volume of compensated deposits totaled 4.5 billion manats during the reporting,” he noted.
In 2015, the volume of compensated deposits was 2.21 billion manats.
Azerbaijan Deposit Insurance Fund began to operate on Aug. 13, 2007.