Azerbaijan-based banks see 25% growth in term deposits year-on-year

Azerbaijan-based banks see 25% growth in term deposits year-on-year
# 03 July 2012 10:41 (UTC +04:00)
Baku. Vahab Rzayev – APA-ECONOMICS. As of May 1, 2012, Azerbaijan-based banks’ term deposits made AZN 3,412 bn, up AZN 684.4 mln or 25.1% from year earlier.

Besides, the growth made AZN 132 mln or 4.2% in first quarter.

50.7% of term deposits are in manat, while this index was 41.3% in 2011’s April. It was 51% in the beginning of 2012. So, manat deposits exceeded foreign currency deposits. This was caused by strengthening of manat against USD.
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