84% of deposits are protected - Report

16:52 - 2.04.2020


April 2, Fineko/abc.az. Liquid assets of the domestic banking sector of Azerbaijan make up 28.6% of the total assets (AZN 6.3 bn).

ABC.AZ reports that the data is contained in the report of the Cabinet Ministers for 2019.

The report says that the sector's instant liquidity ratio is 59.4%, which is twice the minimum demand (30%).

At the end of 2019 banks' correspondent accounts in the Central Bank amount to AZN 2.4 bn, while nostro correspondent accounts (in other banks) account for AZN 3.8 bn, on liquid securities AZN 1.6 bn, and cash – AZN 1.5 bn. Last year, the total liabilities of the banking sector increased by 10.7% (AZN 2.7 bn) up to AZN 28.1 bn. Deposits make up 75.8% of total liabilities, of which 40% (AZN 8.7 bn) are deposits of the population.

There was an increase in the volume of deposits. Bank deposits of the population increased by 3.1% up to AZN 8.7 bn. 84% of deposits are protected by the Azerbaijan Deposit Insurance Fund.

 

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