BAKU, Azerbaijan, October 25. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) grew by 8.2 percent (up to 12.7 billion manat, or $7.4 billion) from January through September 2023, Trend reports.
The data of the Central Bank of Azerbaijan (CBA) shows that the volume of deposits by the population in national currency increased by 15.6 percent to 8.2 billion manat ($4.8 billion), accounting for 64.9 percent of all deposits.
Bank deposits of the population in foreign currency decreased by 3.3 percent (to 4.4 billion manat, or $2.5 billion), amounting to 35.1 percent of all deposits of the population (the share of deposits in foreign currency amounted to 39.2 percent at the end of 2022).
The volume of residents' bank deposits amounted to 11.4 billion manat ($6.7 billion), and nonresidents' deposits amounted to 1.3 billion manat ($764.7 million) as of October 1, 2023. Residents' deposits increased by 7.9 percent and non-residents' deposits by 10.8 percent during the reporting period.
In general, the volume of deposits in banks in Azerbaijan is estimated at 34.2 billion manat ($20.1 billion) as of September 31, 2023, which is 5.6 percent less than at the end of 2022.
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) by the end of 2022.
