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Azerbaijan sees 13% rise in Q2 insured bank deposits

Azerbaijan sees 13% rise in Q2 insured bank deposits

25 July 2013 11:40 (UTC +04:00)

33% (AZN 1.85 bln) of total deposits of the individuals were uninsured, 67% (3.77 bln) – insured.

Compensated deposits soared 12.6% to AZN 1,813 mln, which made 46.1% of insured deposits. 58% of insured deposits was in manat, 38% - in USD, 4% - in Euro.

Fund’s member banks provide services to 4,979,666 depositors, which 4,643,023 (93%) are insured depositors.

Fund’s insurance reserves make AZN 54.2 mln, total assets – AZN 61.6 mln.

Funds in manat – AZN 46.4 mln were placed in government securities and average annual YTM is 4.4%. 5.0 mln Euro is managed via Deutsche Asset & Wealth Management International Company.

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