Term investments for the year the population grew by nearly a quarter

Volume of deposits with credit institutions of Azerbaijan rose in December 2012 by AZN 289.3 million or 2.8% to AZN 10,699.2 million ($ 13.6 billion). Compared to the beginning of last year the figure rose by 1,252.2 million or 13.3%. In 2011, the bank deposit portfolio grew by 23.9%.

In the reported period grew only manat investments. The volume of foreign-currency assets amounted to 5636.7 million manat. And its share in total deposit portfolio decreased to 52.6%. A year earlier, the share of foreign exchange reserves stood at 54.7%.

Total amount of time deposits increased to 7,073 million or 66.1% of the total. Term deposits increased in the last 12 months by 24.2%, including in December - by 8.7% to 4070.6 million manat. The share of timed deposits in the deposit base of banks was 38% (+ 3.3% per year).

By the beginning of this year, individuals kept in bank deposits and investments in the amount of 5113.4 million manats, which corresponds to 47.8% of the total (45.8% a month earlier.) Short-term investments of natural persons in the reported month rose by 3.5% to 3132.6 million manat.

According to the Central Bank of Azerbaijan, the average rate of manat deposits decreased in December by 0.05 percentage points to 9.99%, and the savings in foreign currency - by 0.11 percentage points to 10.18%. The first ones for the year decreased by 0.27 percentage points and the second ones - by 0.93 percentage points. In the reported month, manat deposits were accepted from individuals at an average of 10.25% and currency deposits - at 10.75%. For legal entities, the figures were 6.95% and 3.69% respectively. - 15B -