BAKU, Azerbaijan, April 6. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) from January through February 2024 increased by 11.47 percent to 13.2 billion manat ($7.7 billion) (11.9 billion manat ($6.9 billion) in the same period last year), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the volume of household deposits in national currency increased by 17.55 percent to 8.5 billion manat ($4.9 billion), accounting for 64.66 percent of all deposits.
Bank deposits of the population in foreign currency increased by 1.83 percent (up to 4.6 billion manat ($2.7 billion)), amounting to 35.33 percent of all deposits of the population (in the same period last year, the share of deposits in foreign currency was 38.67 percent).
The volume of bank deposits of residents is 12.002 billion manat and that of non-residents is 1.2 billion manat ($705 million) as of March 1, 2024. During the reporting period, deposits of residents increased by 11.74 percent and those of non-residents by 9.03 percent.
Overall, the volume of deposits and deposits in banks in Azerbaijan is estimated at 37.1 billion manat ($21.8 billion) as of March 1, 2024, which is 5.61 percent more than in the same period last year.
To note, at the end of 2023, bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 12.9 billion manat ($7.5 billion).
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