Cash Turnover Deficit in H1, 2012 Reached 600 Million AZN

The total receipts of cash to banks in January-June 2012 amounted to 14.72 billion manat, which is 38.2% more compared to the same period last year. The largest share of receipts came from sale of foreign currency - 32.9%. The share of sales was 16.9%, the revenue on loans was 8%, the revenue from ATMs - 5%, the revenue from services and work - 4%, the income for notary accounts when buying property - 3.9%, the income on deposit accounts - 3.5%, etc.

According to the Central Bank of Azerbaijan, the shortage of cash turnover amounted to 592 million manat (AZN 248 million for June). Thus, the cost of cash for the period amounted to 15.311 billion manat. This is 38.8% more than in 2011. Of the total expenditure, the cost of purchasing goods and services amounted to 28.1%, 27.2% was the cost of ATM cash collateral, 11.2% was the cost of buying foreign currency, 6.3% was mortgage payments, 5.1 % was the costs on notary accounts for property transactions, 3% was payments from deposit accounts, etc.

The cash balance for the first six months of the year amounted to 284 million manat, which corresponds to 1.9% of the cash receipts during that time.

The average size of the daily cash receipts equaled 80,875 AZN and the average daily expenses were 84,128 manat. - 15B -