Bank Of Baku

Half of personal savings insured

Half of personal savings insured
# 04 August 2014 10:53 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. Total savings of individuals in the banks made AZN 6,335,000,000 during the first half of 2014. This makes 66% of total deposits (excluding financial sector). 

 

According to Deposits Insurance Fund, 45.2% or AZN 2.87 bln of these deposits are uninsured, 54.8% or AZN 3.47 bln – insured. 

 

62% of insured deposits are in manat, 34% in USD and 4% in Euro.

 

Member banks provide service to 6,073,126 depositors, which 5,504,255 are insured.

 

Insurance reserves make AZN 84.3 mln.

 

The funds in manat have been placed in AZN 69.53 mln-government securities and annual average profitability is 4.36%. €5.0 mln of the Fund is managed by Deutsche Asset & Wealth Management International.

 

The Fund has 42 member-banks. 

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