Deposits of individuals show 20-month growth in Azerbaijan
Baku, Azerbaijan, June 6
By Azad Hasanli - Trend:
The volume of deposits of legal entities and individuals in Azerbaijani banks totalled 20.2 billion manat in April 2018, which is 3.16 percent more than Jan.1, 2018, according to a report of the country's Central Bank.
The deposit base has been decreasing since early 2018. If in January it amounted to 20.86 billion manat, then in February it was reduced to 20.69 billion manat, and in March - to 20.3 billion manat.
The deposit base decreased by 8.9 percent compared to April 2017.
Deposits in national currency amounted to 5.99 billion manat (29.64 percent of all deposits), and foreign currency - 14.2 billion manat (70.36 percent).
At the same time, the growth of deposits of individuals continues in Azerbaijan. During the reporting period, it reached a 20-month maximum.
Deposits of individuals amounted to 7.88 billion manat (an increase of 14.7 percent per year) in the period, the majority of which are deposits in foreign currency - 63.36 percent or 4.99 billion manat.
Total volume of deposits of legal entities in Azerbaijani banks amounted to 12.32 billion manat.
In April 2018, the volume of deposits of financial organizations of Azerbaijan amounted to 1.76 billion manat as compared to 51. billion manat in the same period of 2017. Deposits of non-financial organizations totaled 10.56 billion manat as compared to 10.15 billion manat in April 2017.
($1 = 1.7 AZN on June 6).
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