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Azerbaijan sees household deposits grow

Azerbaijan sees household deposits grow

06 January 2010 13:43 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As at December 1, household deposits in Azerbaijan-based commercial banks stood at AZN 2 251.7 million, up 25.4% or AZN 443.7 million from the same period last year.

At the same time, household deposits grew by 18.3% or AZN 348 million during January-December and by 5.9% or AZN 126.1 million in December alone.

The State Statistical Committee said more than half of the deposits are held in foreign currencies.

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 27% or AZN 479 million in April-November.

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