Azerbaijani banks’ deposit base decreases
Baku, Azerbaijan, Sept. 11
By Anvar Mammadov – Trend:
As of July 2017, the total volume of deposits of physical and legal entities in Azerbaijani banks amounted to 21.35 billion manats, according to the report of Azerbaijan’s Central Bank.
The deposit base of banks decreased by 1.2 percent in July 2017 and by 8.2 percent for the year.
The volume of deposits in the Azerbaijani national currency, the manat, reached 4.77 billion manats as of July 2017, 2.4 billion manats of which accounted for demand deposits, and 2.36 billion manats - term deposits, the report said.
According to the report, the deposits in freely convertible currency reached 16.58 billion manats, including 5.7 billion manats - demand deposits and 10.89 billion manats - term deposits.
Thus, as of August 1, 2017, 22.3 percent accounted for the deposits in manats, and 77.7 percent of the total deposit base of banks accounted for the deposits in foreign currency.
According to the report, the physical entities' deposits exceeded 6.86 billion manats in July 2017. Most of the physical entities' deposits accounted for the ones in the foreign currency – 73.5 percent or 5.04 billion manats, the report said.
According to the report, the population’s deposits decreased by 0.7 percent for the month and by 12.5 percent for the year.
The total volume of the legal entities’ deposits in Azerbaijani banks reached 14.49 billion manats or by 6 percent (15.41 billion manats) less than in July 2016, the report said.
As of August 1, 2017, the volume of the Azerbaijani financial organizations’ deposits reached 4.77 billion manats compared to 5.86 billion manats as of July 2016.
The volume of the Azerbaijani non-financial organizations’ deposits reached 9.72 billion manats compared to 9.55 billion manats as of July 2016.