Bank Of Baku

Azerbaijan sees 37% rise in bank deposits

Azerbaijan sees 37% rise in bank deposits
# 02 May 2011 10:43 (UTC +04:00)
According to CBA, the household deposits made AZN 3,289.1 mln, non-financing organizations’ deposits stood at AZN 2,243.2 mln. The share of individuals in structure of the deposits makes 59.5%.

The growth of household deposits made 37.3%. At the same time, deposit of legal entities went down 2%. Main reason of disbalance on dynamics is continuation of problems in bank crediting. That is, more than 2 years, serious difficulties occurred in bank crediting in Azerbaijan, the banks made hard demands on loans. Such processes were observed in business crediting too. Consequently, entrepreneurs were obliged to use own deposits, that this caused reduction of those deposits.

At the same time, as a result of macroeconomic stability and stability of common situation in banking sector, population continues to deposit their available funds in banks.
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