Demand deposits declines while term deposits grow in Azerbaijan’s banking system

Demand deposits declines while term deposits grow in Azerbaijan’s banking system
# 05 December 2008 13:40 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of November 1, the total amount of deposits in banks stood at AZN 3 970.3 million, said the National bank of Azerbaijan.
The figure is a 31.9% rise on a year ago and a 24.7% increase on early this year.
However, the amount of deposits fell 1.18% or AZN 47.2 million in October and 1.7% in September.
Deposits in the hoe currency accounted for 45.5% or AZN 1 807.4 million, leaving 54.5% or AZN 2 162.9 million to foreign-currency deposits.
Demand deposits made up 28% or AZN 1 111.3 million, leaving 72% to term deposits.
While the decline in term deposits was AZN 119.4 million in October, the amount of term deposits grew by AZN 72.2 million.
That is to say, the indicator of trust in banks remains high.
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