BAKU, Azerbaijan, April 3. The total value of commercial banks' deposits in Azerbaijan exceeded 31.1 billion manat ($18.29 billion) as of March 1st of this year.
Data obtained by Trend from the monthly report of the Central Bank of Azerbaijan indicates that, of this amount, 19.9 billion manat ($11.71 billion) accounted for deposits in manat and 11.2 billion manat ($6.59 billion) for foreign currencies.
During the corresponding timeframe of 2024, the metrics recorded
were 19 billion manat ($11.18 billion) and 10.5 billion manat
($6.18 billion), respectively.
Manat deposits experienced a substantial uptick of 867.9 million
manat, translating to $510.5 million, reflecting a 4.6 percent
year-on-year growth. Concurrently, foreign currency deposits surged
by 734.4 million manat, equivalent to $432.6 million, marking a
robust seven percent increase on an annual basis.