Insured deposits of individuals increased in the first quarter, almost 13%
As of April 1, 2013, individuals had bank savings equivalent to 5,213 million manat. Of these, 1.76 bn or 34% accounted for by non-guaranteed deposits. The rest of the savings attributable to 4562 thousand depositors are insured.
According to the report of the Azerbaijan Deposit Insurance Fund, during the first quarter of this year, individuals' deposits in banks grew by 9.1%, including the insured - by 12.9%.
In all, 58% of the insured deposits were in manats, 38% - in U.S. dollars and 4% respectively in the euro.
The total amount of insurance fund reserves reached 51.3 million manat, and assets grew to 59.7 million manat.
The Foundation has operated since August 2007. Its members include 42 of the 43 banks operating in the country. The maximum amount of insurance compensation for a contribution is 30,000 manat. On 1 June 2010 the fund does not insure deposits at interest rates higher than 12%. - 15D -
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- Economics
- 30 April 2013 13:43
Economics
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