Azerbaijani banks see rise in volume of deposits
By Nazrin Gadimova
The total amount of bank deposits of legal entities and individuals attracted by Azerbaijan's credit institutions amounted to about 13.3 billion manats as of April 1, 2014.
The figure is 3 percent higher than the index of March 1, the Central Bank of Azerbaijan (CBA) reported.
Since the beginning of the year, deposit base of banks rose by 6.6 percent, while on an annualized basis - by 20.8 percent.
Thus, the total amount of deposits in Azerbaijani banks amounted to about 12.9 billion manats as of March 1, while this figure was about 12.6 billion manat as of February 1, and 12.4 billion - as of January 1.
Deposits in national currency (manats) totaled up to about 6.6 billion as of March 6, about 2.4 billion of which are call deposits, and about 4.9 billion are time deposits.
Deposits in freely convertible currency amounted to about 6.7 billion manats as of April 1, (about 1.7 billion and 4.9 billion respectively).
The deposit base of the banks increased by 16.6 percent in 2013.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!