Baku, Azerbaijan, June 10
By Anvar Mammadov – Trend:
The volume of deposits of legal entities and individuals in Azerbaijani banks amounted to 22.15 billion manats in late April 2017, according to a report of the Central Bank of Azerbaijan (CBA).
The report says that during the month, deposit base of banks increased by almost 4 percent, and decreased by 1.8 percent in annual terms.
Deposits in national currency totaled 5.57 billion manats in the period, some 2.63 billion manats of which accounted for demand deposits, 2.94 billion manats – for time deposits.
Meanwhile, deposits in freely convertible currency totaled 16.58 billion manats, including 5.32 billion manats accounting for demand deposits and 11.26 billion manats – for time deposits.
Thus, as of May 1, 2017, deposits in manats accounted for 25.1 percent, deposits in foreign currency – for 74.9 percent of total volume of the Azerbaijani banks’ deposit base.
Deposits of individuals exceeded 6.87 billion manats in April 2017. A major part of these deposits (76.7 percent or 5.27 billion manats) accounted for foreign currency deposits. The volume of the population’s deposits decreased by 0.6 percent during the month, and decreased by 10.7 percent in annual terms.
Total volume of deposits of legal entities in Azerbaijani banks amounted to 15.28 billion manats in the period that is by 2.8 percent more than in the same month of 2016 (14.87 billion manats).
As of May 1, 2017, the volume of deposits of Azerbaijan’s financial organizations totaled 5.13 billion manats as compared to 6.18 billion manats in early May of 2016. the volume of deposits of non-financial organization amounted to 10.15 billion manats, as compared to 8.69 billion manats in late April 2016.