15:00 - 23.08.2023

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August 23, Fineko/abc.az. A decrease in the monthly deposits of the population in banks was recorded, MP Vugar Bayramov said, ABC.AZ reports.

He noted that as of August 1, the total volume of deposits dropped AZN 43.3 million compared to the previous month - up to AZN 12,705 million:

“A monthly decrease in the volume of deposits was also recorded in February of this year. Systemically important banks continue to reduce deposit rates. The average interest on deposits in manats decreased to 6.0% on term deposits. But in the case of termless deposits, the interest is purely symbolic. This does not affect savings investments.

The bankruptcy of Günay Bank affected the total volume of deposits. It should be noted that at the time of revocation of the license, the deposit portfolio of this bank amounted to AZN 82,507,000.

In general, despite the monthly decline, compared to January this year, the volume of deposits increased by AZN 962 million. In this regard, it is also important to maintain monthly growth rates throughout the year. A wider attraction of deposits is also important in terms of financing the real sector and lowering interest rates on loans."