BAKU, Azerbaijan, Nov.27
By Zeyni Jafarov - Trend:
The volume of bank deposits of the population of Azerbaijan, including funds of individual entrepreneurs contracted by 10.7 percent from January through October 2020 equaling 7.87 billion manat ($4.62 billion), Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, the volume of deposits of the population, including funds of individual entrepreneurs, in the national currency in the first ten months of 2020 amounted to 3.7 billion manat ($2.17 billion), having declined by 5.8 percent over the year.
The share of deposits of the population in the national currency is 47 percent of the total volume of deposits of the population.
Bank deposits of the population in foreign currency for the reporting period amounted to 4.17 billion manat ($2.45 billion), which is 14.6 percent less compared to the same period of last year. The share of deposits of the population in foreign currency at the beginning of November this year is 53 percent of all deposits.
The deposits of residents and non-residents reach 7.59 billion manat ($4.46 billion) and 281.8 million manat ($165.7 million), respectively. Since early November 2019, the investments of residents decreased by 580.7 million manat ($341.5 million) or 7.1 percent, and the decline in non-resident deposits amounted to 360.1 million manat ($211.8 million) or 56.1 percent.
As of early November 2020, the volume of deposits in Azerbaijani banks amounted to 22.4 billion manat ($13.1 billion), which is 4.1 percent less compared to the same period last year.
(1 USD =1.7 AZN on Nov. 27)
---
Follow the author on Twitter: @jafarov_zeyni
