BAKU, Azerbaijan, June 6. Bank deposits of the population in Azerbaijan (including funds of individual entrepreneurs) as of May 1, 2023 increased, Trend reports.
According to the Central Bank of Azerbaijan (CBA), this figure amounted to 12.2 billion manat ($7.18 billion), which is four percent more than as of May 1, 2022.
The bank deposits of the population in foreign currency in the first four months of this year decreased by 1.2 percent to 4.56 billion manat ($2.68 billion), accounting for 37.2 percent of all deposits of the population.
At the same time, the volume of deposits of the population in the national currency increased by 7.4 percent to 7.6 billion manat ($4.4 billion), accounting for 62.8 percent of all deposits.
As of May 1, 2023, the volume of bank deposits of residents made up 11 billion manat ($6.4 billion), while the deposit volume of non-residents - 1.19 billion manat ($700 million).
In the reporting period, deposits of residents increased by 4.2 percent, while deposits of non-residents - by 1.7 percent.
Overall, as of May 1, 2023, the volume of bank deposits amounted to 35.2 billion manat ($20.7 billion), which is a 2.9 percent growth on annual basis.
In 2022, the bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 11.7 billion manat ($6.8 billion).
