Baku, Azerbaijan, Feb. 14
By Anvar Mammadov – Trend:
The total volume of deposits of legal entities and individuals in Azerbaijani banks amounted to 20.6 billion manats in 2017, according to the report of Azerbaijan’s Central Bank.
The deposit base of banks increased by 4.9 percent in December 2017 and decreased by 6.7 percent for the year.
The volume of deposits in the Azerbaijani national currency, the manat, reached 5.69 billion manats in 2017, 3.29 billion manats of which accounted for demand deposits, and 2.4 billion manats - term deposits, the report said.
The volume of deposits in the freely convertible currency reached 14.91 billion manats in 2017, 7.02 billion manats of which accounted for demand deposits, and 7.9 billion manats - term deposits, the report said.
Thus, as of January 1, 2018, 27.6 percent accounted for the deposits in manats, and 72.4 percent of the total deposit base of banks accounted for the deposits in foreign currency.
According to the report, the individuals' deposits reached 7.37 billion manats in 2017 (1.1-percent growth for the year). Most of the individuals' deposits accounted for the ones in the foreign currency – 69.1 percent or 5.09 billion manats, the report said.
According to the report, the population’s deposits increased by 1.2 percent in December 2017.
The total volume of the legal entities’ deposits in Azerbaijani banks reached 13.23 billion manats in 2017 or by 9.6 percent (14.64 billion manats) less than in 2016, the report said.
As of January 1, 2018, the volume of the Azerbaijani financial organizations’ deposits reached 1.94 billion manats compared to 5.53 billion manats in 2017.
A sharp decrease in the deposits of financial organizations is connected with the restructuring of the International Bank of Azerbaijan.
The volume of the Azerbaijani non-financial organizations’ deposits reached 11.1 billion manats in 2017 compared to 9.11 billion manats in 2016.
(1.7001 AZN = $1 on Feb. 14)