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Azerbaijan bank deposits shrinks by 24%

Azerbaijan bank deposits shrinks by 24%

28 April 2009 16:26 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. As of April 1, deposits in Azerbaijan-based banks stood at AZN 3 289.9 million, up 1.4% or AZN 51.1 million on the same period last year, said the Central Bank of Azerbaijan.

According to the statistics, deposits dwindled by 10.2% or AZN 371.9 million in March alone, 11.1% or AZN 455.4 million in February and 24.4% or AZN 1 062.6 million in the first quarter.

Interestingly, call deposits grew by 21.4% year-on-year while term deposits dropped by 29.9%.

Manat deposits accounted for 43.5% of deposits.

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