Baku, Azerbaijan, Oct. 10
By Azad Hasanli – Trend:
The volume of manat deposits of individuals reached its two-year maximum – 1,918.4 million manats in Azerbaijan in January-August 2017, says a report of the country’s Central Bank (CBA).
According to the report, manat deposits increased by 31.7 percent in January-August 2017 as compared to the same period of 2016. Prior to that, such a volume of manat deposits in the banking sector was observed in July 2015 – 2,138.7 million manats.
In August, foreign currency deposits, on the contrary, reached the minimum volume for the last three years (4,977.1 million manats). In general, the volume of foreign currency deposits decreased by 23 percent during the year.
The report says that the total volume of deposits of individuals amounted to 6,895.5 million manats in August that is 13.1 percent less than in the same period of 2016.
Residents of Azerbaijan reduced the volume of deposits by 11.8 percent to 6,096.7 million manats during the year, while non-residents – by 21.56 percent to 798.8 million manats.
Thirty-one banks, including two state-owned, operate in Azerbaijan.
(1.7002 manats = $1 on Oct. 10)