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Central Bank of Azerbaijan: Situation became stable in the banking system

Central Bank of Azerbaijan: Situation became stable in the banking system

22 June 2009 10:25 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. There was a 2% increase in deposits put in banks by the population in April-May, said Rashad Orujov, Lending Supervision Officer of the Central Bank of Azerbaijan.

According to him, there was slowdown in some indicators during the first quarter.

â€œGrowth in this sector slowed down a little. However, the situation became stable and growth rebounded now. There was a more than 2% rise in deposits in April-May. This is a positive trend,â€ he added.

He noted that it is possible to talk about stabilization of the banking system and recovery of the positive trend.

As of May 1, deposits in Azeri banks stood at AZN 1 865.8 million â€“ AZN 1 174.7 million in foreign currencies and AZN 691.1 million in manat.

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