Deposit Resources of Azerbaijani Banks Rose in August by 2.2%

The volume of deposits with credit institutions of Azerbaijan increased in August 2012 by 209.6 million or 2.2% to 9,878.3 million manat. Over the past 12 months, four of which there was a decline, the figure rose by 1,428.6 million or 15.7%.

In the reported period also grew foreign exchange savings. The volume of foreign currency amounted to 5,337.3 million manat. And its share in total deposit portfolio decreased to 54%. A year earlier, the share of foreign exchange reserves stood at 58.7%.

By the beginning of August individuals kept in banks deposits in the amount of 4,462.6 million manats, which corresponds to 45.2% of the total (45.7% a month earlier.) Short-term investments of natural persons in the reported month increased 64.8 million or 2.3% to 2,853.5 million manat. Long-term savings of individuals decreased 17.5 million or 1.1% to 1,609 million manat.

Time deposits increased to 6,311.7 million or 63.9% 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 August by 0.05% to 10.31, while the savings in foreign currencies remained at 10.77%. In the reported month, manat deposits were accepted from individuals at an average of 10.64% per annum, and currency deposits - at 10.95%. For legal entities, the figures were 6.88% and 5.32% respectively. - 15B -