Bank Of Baku

64% of bank deposits insured in Azerbaijan

64% of bank deposits insured in Azerbaijan
# 29 April 2013 08:05 (UTC +04:00)

 

Baku. Ali Ahmadov – APA-Economics. 64% of Azerbaijan-based commercial banks’ total loan portfolio (AZN 3.4 bln from AZN 5.3 bln) are insured, said the Executive Director of Deposits Insurance Fund Azad Javadov.

 

Uninsured deposits make AZN 1.8 bln. AZN 930 mln of them are not insured because of the interest rates are over 12%. Other deposits are uninsured due to several reasons.

 

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