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Azerbaijan gets rise in insured deposits

Azerbaijan gets rise in insured deposits

04 June 2009 17:12 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan Deposit Insurance Fund has announced that member banks hold individuals deposits worth of AZN 1 746.862 million, including insured deposits of AZN 1 097.698 million and uninsured deposits of AZN 126.484 million for January-March.

Azad Javadov, CEO of the Fund, said 63% of individualsâ€™ deposits are insured and 37% are uninsured.

The amount of individualsâ€™ total deposits increased 2% while insured deposits decreased 20% during the first quarter as against the fourth quarter of 2008.

Azerbaijan Deposit Insurance Fund has been in operation since August 13, 2007.

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