Deposits in banks for 11 months of 2013 rose by more than a quarter

BAKU/25.12.13/TURAN : Within 11 months of this year Azerbaijan banks' assets grew by 22%, loans by a quarter. This is stated in the statement of the bank on the main directions of monetary policy and financial stability in 2014 .

During the reporting period, the volume of credit directed to the regions increased by 31% in the private sector - 25%. The share of long-term loans in the total portfolio of banks has reached 79 %, while consumer loans during the same period increased by 37 %.

Household deposits in January - November of this year increased by 25.5% to 6.4 billion manat, of which 70% are insured . The total number of depositors in the country currently stands at 3 million people . By the beginning of December 2013 on the Soviet deposits there was paid 600 million manats.

The total capital of the banking sector over the last 16 months increased by 57% or 1.2 billion manat. Since the adoption of the Central Bank decision to increase the minimum level used capital to 50 million manat , the number of banks with capital exceeding 100 million manat increased from three to 8 , and the capital of the banks having 95% of the assets and deposits of the population exceeds 50 million manat . Despite the fact that the new regulations for the remaining 5 percent had already come into force January 1, 2014 , the supervisory authority for reasons of maintaining the financial stability of the bank gave it a reprieve of one year. -15D -