Deposits in national currency doubled

Business Materials 28 April 2006 15:29 (UTC +04:00)

The deposit base of the Azerbaijani banks grew on 9, 5% and reached 1411m AZM this year, according to the National Bank of Azerbaijan (NBA) data. Summary amounts of the bank deposits and accounts from both businesses and private persons grew on 41, 3% in comparison to the similar period of the last year, NBA told Trend . The total weight of deposits and accounts in national currency grew from 19, 3% to 22, 9% and reached 322, 6m AZM. 1088, 4m AZM more has been attracted in the foreign currencies.

Deposits of private persons grew on 29, 9% and reached 545m AZM, whereas, deposits of business grew on 49, 5% with the total weight of 61, 4% and reached 866m AZM.

Deposits in national currency grew in 2, 12 times (24, 2%) due to the strengthening of the national currency with deposits in foreign currencies on 23%. Private deposits in national currency reached 30, 9% and in foreign currency -1%.