Finance

Home page

Finance

Manat deposits in Azerbaijan-based banks continue to fall - ANALYSIS

Manat deposits in Azerbaijan-based banks continue to fall - <span style="color: red;">ANALYSIS

11 June 2015 08:32 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. As of May 1, 2015, the deposits placed by customers in the banks stood at AZN 18,831.1 mln, up AZN 5,215,500 or 38.3% from previous year, AZN 31.2 mln or 1.68% from March, Central Bank of Azerbaijan told APA-Economics.

Of this, 26.59% or 5,007,100,000 was placed in manat, 73.41% or 13,824,000,000 in foreign currency.

For comparison to note that the banks received 50.17% or 6,831,500,000 in manat, 49.82% or 6,784,100,000 in foreign currency.

The manat deposits declined 16.5% in February, 9.36% in March and AZN 539.7 mln or 9.73% in April. Manat deposits fell 23.58% year-on-year, foreign currency deposits rose 23.58%.

Personal savings in April made AZN 7,717.2 mln, up AZN 1,147.3 mln or 17.46% from a year earlier.

Generally, the personal savings fell AZN 151.1 mln or 1.9% in March. Compared to March, the personal savings dropped AZN 64.4 mln or 0.83% in April. In March, the savings made AZN 7,781,600,000.

Compared to January, the savings surged AZN 595.9 mln or 8.37% in April.

571% or 5,472,200,000 of personal savings were in foreign currency, 29% or 2,245,100,000 in manat. In other word, foreign currency savings increased AZN 387.6 mln, manat savings fell AZN 1,821.9 mln or 44.8%.

Through the decline of manat savings, share of manat savings in total personal savings dropped to 60.05% in January, 37.66% in February, 34.66% in March, 29% in April. This index was 61.5% in December, 2014.