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Individuals in Azerbaijan actively placing funds in banks

Business Materials 4 September 2018 15:14

Baku, Azerbaijan, Sept. 4

By Azad Hasanli - Trend:

The volume of deposits of individuals in Azerbaijan has amounted to 8.05 billion manats at the end of July 2018, which is 6.46 percent more than at the beginning of the year, according to the data of the Central Bank of Azerbaijan (CBA).

The majority of deposits - 62.3 percent, or just over five billion manats have been placed in foreign currency.

The total volume of deposits of legal entities in the banks of Azerbaijan has amounted to 12.44 billion manats, having decreased by 4.6 percent since the beginning of the year.

The volume of deposits of financial institutions of Azerbaijan amounted to 1.56 billion manats at the end of July 2018, against 1.9 billion manats at the end of December 2017. Deposits of non-financial organizations amounted to 10.89 billion manats against 11.1 billion manats.

In general, during the reporting period, the volume of deposits of legal entities and individuals in Azerbaijani banks have amounted to 20.49 billion manats, which is 0.5 percent more than at the beginning of the year.

The deposits in national currency have amounted to 6.43 billion manats (31.4 percent of all deposits), the deposits in foreign currency - to 14.06 billion manats (68.6 percent) at the beginning of August 2018.

The official exchange rate on September 4 is 1.7 AZN/USD.

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Follow the author on Twitter: @AzadHasanli

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