Consolidation of manat causes 83%-rise in deposits in AZN
In February the deposit base of Azerbaijani banks grew 6.9% and made up 1377.3m manats, the National Bank of Azerbaijan told Trend. The total amount of bank deposits and savings of legal and physical entities grew 38.4% as compared to 2005.
In this period the special weight of all deposits and savings in national currency made up 21.3%, or 292.9m manats. The banks attracted 1084.4m in foreign currency.
As of 1 March deposits of physical entities rose 26.2% and made up 522.1m manats. Deposits of legal entities with the special weight of 62.1% rose 47.1% to 855.2m manats.
Following the consolidation of the rate of national currency the deposits in manat rose 83%, whereas the savings in banks in foreign currency grew 21.3%. The amount of deposits of legal entities went up 44.5%, while in foreign currency 48.2% over the first two months.