Central Bank: Deposits of physical persons down by 1.5%

Baku. 11 July. REPORT.AZ/ Volume of deposits of physical persons in the banking sector of Azerbaijan as of June 1 amounted to 7566 mln. AZN. Report informs referring to the CBA, this is less by 119.9 million AZN or 1.54% compared to May 1. The volume of deposits of individuals in comparison with the same period last year also decreased by 35.1 mln. AZN or 0.46%.

Manat deposits from individuals as of June 1 amounted to 1 447.5 million AZN. On a monthly basis, an increase of 2.83%, or 39.9 million AZN was observed, compared to the same period in 2015 a decrease of 33.37% or 725,1 mln. AZN was fixed.

Foreign currency deposits from individuals as of June 1 amounted to 6 118.4 million AZN, which is less by 2.53% or 158.9 million AZN compared to May 1. Compared with the same period last year, an increase in foreign currency deposits made by 12.7% or 689.9 million AZN.

Analysts of Report News Agency stated that the reduction in the volume of deposits of physical persons is related with the decline of the US-dollar in May.

"The growth of deposits in foreign currency in the annual comparison made only by 12.7%, despite the 50% devaluation, it reflects a reduction of the sector in real terms", analysts said.