Deposits in Azerbaijani Banks Increase by 50% in a Year
Azerbaijan, Baku / Trend corr. I.Khalilova /The National Bank of Azerbaijan has reported that the summary volume of bank deposits and investments of businesses and private individuals made up AZN 2,254,600 as at 1 June 2007, this is an increase of 6.16% compared to May 2007 and by 47.56% compared to the same period in 2006. Some AZN 989.7mln (8.16% for May) of the volume made up manats, the rest currency.
The volume of investments by private individuals in Azerbaijani banks as at 1 June made up AZN 1,500 mln compared to AZN 819.5mln at 1 January 2007. The volume of deposits of businesses at 1 June made up AZN 1,269.6mln compared to AZN 130.9mln at 1 January.
Some AZN 989.7mln of investments and deposits of private individuals were allocated in the national currency, but AZN 1,264,900 in main currencies and AZN 651.1mln of funds were allocated in manats for businesses.
The average amount of deposits in mantas at 1 June 2007 made up 10.85% compared to 10.92% at 1 May and 10.39% at the beginning of the year.
Consumer inflation in 9.4% of the real stake on deposits made up 1.45%. The average stake on deposits in foreign currency amounted to 12.6 % compared to 12.37% at 1 May and 11.58% at the beginning of 2007.