The volume of deposits with credit institutions of Azerbaijan increased in November 2013 by 390.4 million or 3.3 % to 12,432.7 million manat. Over the past 12 months , two of which there was a decline , the figure rose by 2,022.8 million or 19.4%.
In the reporting month grew both manat and foreign currency investments . The volume of funds amounted to 6,197.8 mln manat and its share in the total deposit portfolio of banks decreased in November to 50.1 %. A year earlier, the proportion of resources manat stood at 45.4% .
By the beginning of December individuals stored in banks deposits amounting to 6,419.6 million manat, which corresponds to 51.6% of the total ( 52.3% a month earlier). Short-term investments of individuals in the reporting month increased by 97.7 million or 2.7% to 3,718.7 million manat. Long-term savings by individuals increased by 18.6 million or 0.7% to 2701 million manat.
Time deposits increased in the reporting month to 8,486.4 million or 68.3% (+0.1 % in November) total. The total volume of demand deposits increased to 3,946.3 million manat.
According to the Azerbaijani Central Bank , the average rate on manat deposits in November rose by 0.08 percentage points to 9.51 % and on savings in foreign currency it fell by 0.18 percentage points to 9.72 %. In the reporting month , manat deposits were accepted from individuals an average of 9.87 % per annum and currency deposits - by 10.30% . For legal entities , the figures were 6.04 % and 3.08 % respectively. - 15B -
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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