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Bank of Azerbaijan posts 41% rise in personal deposits

11 June 2009 16:20 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of June 1, Bank of Azerbaijan posted its deposit portfolio for individuals at AZN 46.698 million, up 41% from early this year.

Besides, population time deposits shot up by 42% during January-May.

In addition to other deposits, the bank offers Progressive and Rahat Deposit.
Progressive Deposit is a deposit in manat, dollar or euro earned 17%, 18% and 19% per annum. Interests are available for withdrawal monthly.

Rahat Deposit is a deposit which earns 14% per annum. This deposit allows deposit holders to get a credit line of up to 70% of the deposit at annual interest rate of 12%.

As of April 1, Bank of Azerbaijanâ€™s assets stood at 117.086 million manats, loan portfolio at 89.549 million manats, total capital at 20.245 million manats, and authorized capital at 15 million manats.

The bank operates 18 branches, 23 ATMs and 106 POS terminals across the country.