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ADIF: 73% deposits insured in Azerbaijanâ€™s banks

02 August 2016 09:23 (UTC +04:00)

The Azerbaijan Deposits Insurance Fund told APA-Economics that in the second quarter of the current year, insured deposits decreased 8.8 % (AZN 543 mln) compared to the last quarter and 5% (AZN 296 mln) compared to the early year. Thus, 73% (AZN 5.66 bln) of the total deposits (AZN 7.8 bln) are insured deposits, 27% (AZN 2.10 bln) are uninsured deposits.

The compensated deposits increased by 99% (AZN 2.275 mln) compared to early year and made AZN 4.572 mln which makes 65% of total deposits (excluding unsecured deposits) and 81% of the secured deposits.

77 percent of insured deposits have been placed in US dollar, 19 percent - in manat and 4 percent - in euro.

The fund's total assets made 168.2 million manat, long-term assets – 2.2 million manat in the second quarter of 2016.

In the second quarter of 2016, the fund's total revenues hit AZN 13.7 million, AZN 13.2 million are calendar fees and AZN 443 000 are interest incomes. The Fund's administrative and general expenses made AZN 1.8 million, including AZN 943,500 of operating expenses.

The Fund's current investment portfolio includes AZN 7.3 million worth of securities.

As of the end of second quarter of 2016, 37 operating banks are members of the fund.