Deposit Resources of Azerbaijani Banks Decreased in June by 1.8%

The volume of deposits and deposits with credit institutions in Azerbaijan decreased in June 2012 by 180.2 million or 1.8% to 9,704.3 million manat. Over the past 12 months, in three of which there was a decline, the figure rose by 1,577.5 million or 19.4%.

In the reported period only manat investments grew. The volume of manat funds was 4,501.7 mln. And its share in the total deposit portfolio increased to 46.4%. A year earlier, the share of manat resources stood at 40.5%.

By the beginning of July individuals kept in bank deposits and investments in the amount of 4,372.6 million manats, which corresponds to 45.1% of the total (43.9% a month earlier.) Short-term investments of natural persons in the reported month increased 27.1 million or 1% to 2,768.9 million manat. Long-term savings by individuals increased 3.8 million or 0.2% to 1,603.7 million manat.

In June, only time deposits rose. Their total reached 6,261.3 mln. Demand deposits decreased to 3,442.9 million or 35.5% of the total.

According to the Central Bank of Azerbaijan, the average rate of manat deposits increased in June by 0.01% to 10.33% and the rate on savings in foreign currency decreased by 0.22% to 10.79%. In the reported month, manat deposits were accepted from individuals at an average of 10.77% per annum, and currency deposits - at 10.98%. For legal entities, the figures were 6.25% and 5.11% respectively. - 15B -