'Last year the Azerbaijani banks actively attracted credits from abroad. In the result, the volume of their foreign borrowings made up AZN 1.7 bn. As at the beginning of this year the amounts borrowed from abroad make up just 18% of the overall volume of obligations of the banking system', according to the report about the activity of the Cabinet of Ministers this year.
The document reads that despite the world economic crisis, the foreign investors preserved interest to the banking system of Azerbaijan. 'In 2009 23 banks with foreign capital borrowed foreign investments to the capital in the amount of AZN 45.3 mln', the report says.
According to the report, in 2009 the deposits of individuals in the banks have grown by 22.5% up to AZN 2,334,900,000.
The official rate is AZN 0.8033/$1 as at March 19.
Interfax-Azerbaijan
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