BAKU, Azerbaijan, Oct. 24
By Kamala Mammadli - Trend:
The capitalization of Azerbaijan’s banking sector amounted to 4.2 billion manat ($2.5 billion) from January through September 2019, which is 17 percent more compared to the same period of 2018, Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
Deposits of individuals in September 2019 amounted to 8.5 billion manat ($5 billion), which is 2.7 percent more than in the beginning of the year (221.6 million manat, or $130.3 million). Term deposits of individuals since the beginning of the year increased by 235 million manat ($138.2 million, or 8.4 percent).
Deposits of individuals in national currency increased by 21.8 percent (665.3 million manat, or $391.4 million), and in foreign currency decreased by 8.5 percent (443.7 million manat, or $261 million).
The total deposits of legal entities amounted to 11.6 billion manat ($6.8 billion), having increased over nine months by 12.2 percent (1.3 billion manat, or $741.1 million). The growth was recorded mainly due to long-term deposits. Since the beginning of the year, term deposits increased by 86.3 percent (1.3 million manat, or $735,890) and amounted to 2.7 million manat ($1.6 million).
The balance capital of banks increased by 15.1 percent from the beginning of the year and amounted to 4.7 billion manat ($2.8 billion).
($1= 1.7 manat on Oct. 24)
