Bank deposits in Azerbaijan increased by 9%

In March, demand deposits in manat increased by 9%, in foreign currency - by 19%

Baku. 6 May. REPORT.AZ/ Total deposit base of the banking sector of Azerbaijan, including deposits of non-residents and the government, amounted to 23 121.6 million AZN on April 1, 2016. Report informs referring to the Central Bank of Azerbaijan (CBA), volume of deposits increased by 1 836.2 million AZN or 8.63% in comparison with March 1, and 4 602.5 million AZN or 24.8% in comparison with the same period of last year.

On a monthly basis, manat deposits increased by 222.6 million AZN or 5.3% - to 4 401.2 million AZN, including demand deposits - to 176.3 million AZN or 9.2% - to. 2 085,1 mln. AZN, term deposits - by 46.3 million AZN or 2% and amounted to 2 316.1 million AZN.

Volume of deposits in foreign currency for March has increased by 1 613.8 million AZN or 9.4% -to 18,720.5 million AZN. Currency demand deposits in a monthly comparison increased by 889.3 million AZN or 19% - to 5 574,8 mln. AZN, term deposits by 724.5 million AZN or 5.8% -to 13 145 7 mln. AZN.

"The growth of deposits in March is related with the increasing of the US-dollar rate. Considering the growth of household spending by a decline in incomes and strengthening of manat in April, reduction of deposit portfolio in April is expected", analysts of Report News Agency believe.

If you find out orphographic mistake in the text, please select mistaken part of the text and press Ctrl + Enter.

Last added

All news