OREANDA-NEWS. January 11, 2009. The International Bank of Azerbaijan (IBA), the country’s largest credit institution, has informed of rise on population’s deposits, reported the press-centre of IBA.

The Bank’s press service reports that today the Azerbaijani residents are storing AZN 492.7 million as deposits in the IBA.

“It is by 26.2% more versus the index by early 2008. Over the last five months of 2008 retail deposits rose by 10% or AZN 42.6 million. From November to December this growth made up 4% (AZN 18.8 million),” it was reported.

Fixed deposits in the IBA deposit portfolio totaled AZN 344.9 million. The share of the national manat in deposits makes 48%.

“The IBA offers regularly for its customers not only new types of savings but also improves the available services and creates attractive conditions for storage of money in deposits,” the press service says.

From January to November of 2008 the Bank’s customers received returns AZN 37.5 million on their deposits that is by 1.5-fold more against the entire 2007.

A range of the IBA demand deposits allow each customer to select an optimal decision for placement of his money taking into account the deposit conditions: flexible terms (from 3 months up to five years), a possibility to get interests monthly or quarterly at customer’s desire, and make expenditure operations increasing profitability on the deposit, extension of the deposit without visiting a Bank’s branch in a way of Internet-banking or cash machines.