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Household deposits grow in Azerbaijan

Household deposits grow in Azerbaijan

16 December 2009 15:38 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As at November 1, household deposits in Azerbaijan-based commercial banks stood at AZN 2 125.7 million, up 18.4% or AZN 330.8 million from the same period last year.

At the same time, household deposits grew by 11.6% or AZN 220.5 million during January-October and by 0.2% or AZN 4.9 million in October alone.

The State Statistical Committee said 38.8% of deposits are held in the home currency and 61.2% in foreign currencies.
75.9% of deposits are held in private banks.

Household deposits, as other important performance indicators of the banking system, started to increase after declining during the first quarter.

Household deposits declined by 6.9% or AZN 131 million during January-March but grew by 19.6% or AZN 346.6 million in April-September.

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