Azerbaijani banks" deposit resources exceeded 10 billion manats

Volume of deposits with credit institutions of Azerbaijan increased in September 2012 by 202.3 million manat, or 2%, to 10,080.6 mln. Over the past 12 months, four of which there was a decline, the figure rose by 1,340 million or 15.3%.

In the reported period grew both manat and foreign exchange savings. The volume of foreign currency amounted to 5520.6 million manat. And its share in total deposit portfolio decreased to 54.8%. A year earlier, the share of foreign exchange reserves stood at 58.6%.

By the beginning of October individuals kept in bank deposits investments in the amount of 4,556.3 million manats, which corresponds to 45.2% of the total (the month before it was the same). Short-term investments of natural persons in the reported month increased 64.7 million or 2.4% to 2,921.2 million manat. Long-term savings by individuals increased 26.1 million or 1.6% to 1,609 million manat.

Time deposits increased to 6,724.7 million or 66.7% of the total. The total amount of demand deposits reached 3,566.7 mln.

According to the Central Bank of Azerbaijan, the average rate of manat deposits decreased in September by 0.10 percentage points to 10.21%, and the savings in foreign currency - by 0.28 percentage points to 10.49%. In the reported month, manat deposits were accepted from individuals at an average of 10.53% per annum, and currency deposits - at 10.82%. For legal entities, the figures were 6.97% and 4.27% respectively. - 15B -