Total volume of individuals’ deposits in Azerbaijani banks amounted to 7.76 billion manats according to the results of Q2 2016, and the volume of insured deposits – to 5.66 billion manats, said a message from Azerbaijan Deposit Insurance Fund (ADIF).
“Portfolio of insured deposits decreased by 543 million manats (8.8%) during the reporting period QoQ, and by 296 million manats (5%) compared to early 2016”, said the message.
The volume of insured deposits increased by 99% since early 2016 and amounted to 4.57 billion manats, or 65% of the total volume of deposit portfolio (81% of insured deposit volume).
The message said also that 77% of insured deposits were placed in US dollars, 19% – in manats, 4% – in euros.
“According to the results of Q2 2016, ADIF’s assets totaled 168.2 million manats, including 2.2 million manats of long-term assets”, said the message. “ADIF’s revenues amounted to 13.7 million manats in Q2, 13.5 million manats of which accounted for calendar payments of the fund’s member banks”.
Administrative and total expenses of ADIF reached 1.8 million manats, including 943,500 manats of operating expenses, according to the message.
Currently, ADIF’s investment portfolio consists of securities with a total cost of 7.3 million manats. (Trend/Business World Magazine)
