BAKU, Azerbaijan, September 27. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) increased by 8.2 percent to 12.58 billion manat ($7.39 billion) from January through August 2023, Trend reports.
The data of the Central Bank of Azerbaijan shows that the volume of deposits by the population in national currency increased by 12.3 percent to 8 billion manat ($4.7 billion), amounting to 63.7 percent of all deposits.
Bank deposits of the population in foreign currency decreased by 0.9 percent to 4.5 billion manat ($2.6 billion), amounting to 36.3 percent of all deposits of the population (at the end of 2022, the share of deposits in foreign currency amounted to 39.2 percent).
Moreover, the volume of residents' bank deposits amounted to 11.2 billion manat ($6.5 billion) from January through August, while non-residents' deposits amounted to 1.34 billion manat ($788.2 million) as of September 1, 2023. In the reporting period, residents' deposits grew by 6.3 percent and non-residents' by 14.2 percent.
In general, the volume of deposits in banks in Azerbaijan as of August 31, 2023, is estimated at 34.3 billion manat ($20.1 billion), which is 5.3 percent less than at the end of 2022.
By the end of 2022, bank deposits of population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 11.7 billion manat ($6.8 billion).
