Baku, Azerbaijan, March 8
By Azad Hasanli – Trend:
The volume of deposits of legal entities and individuals in Azerbaijani banks totaled 20.86 billion manats in late January 2018, which is 10.14 percent less than in January 2017, according to a report of the country’s Central Bank.
Despite the annual reduction, the deposit base of banks began to recover gradually and has been increasing for the third month in a row. In October 2017, the deposit base of banks totaled almost 19.7 billion manats, while in late 2017 this indicator was 20.6 billion manats.
Deposits in national currency amounted to 5.49 billion manats (26.3 percent of all deposits), and freely convertible currency – 15.37 billion manats (73.7 percent).
Deposits of individuals amounted to 7.497 billion manats (an increase of 3.2 percent per year) in the period, the majority of which are deposits in foreign currency – 66.26 percent or 4.967 billion manats.
Total volume of deposits of legal entities in Azerbaijani banks amounted to 13.36 billion manats, which is 13.64 percent less than in January 2017.
As of Feb. 1, 2018, the volume of deposits of financial organizations of Azerbaijan amounted to 1.937 billion manats as compared to 5.753 billion manats in 2017. Deposits of non-financial organizations totaled 11.428 billion manats as compared to 9.715 billion manats in January 2017.
(1 USD = 1.7 AZN on March 8)