Deposits in Azerbaijan fall nearly 2 bln AZN in September

Baku. 13 November. REPORT.AZ/ The volume of total deposits in banking sector of Azerbaijan in September decreased by 1 957,3 mln. AZN or 18.75% and amounted to 8 480,6 mln. AZN as of October 1, 2017. In reporting period, volume of population’s deposits placed in foreign currency increased by 63,3 mln. AZN or by 1.27% and reached 5 040,4 mln. AZN.

Analytical Group of Report News Agency states that the decrease of deposits was caused by rehabilitation measures carried out in the International Bank of Azerbaijan (IBA). As a result of that the volume of the deposits placed by financial institutions in credit organizations fell by 2 042,8 mln. AZN or 48,98% to 2 127,5 mln. AZN. The reduction occurred mainly at the expense of deposits placed in foreign currency. Thus, in September, the volume of foreign currency deposits placed by financial institutions in credit organizations decreased by 2 045 mln.AZN or 53,4% to 1 783,3 mln. AZN.