BAKU, Azerbaijan, January 23. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) in 2023 increased by 10.25 percent to 12.9 billion manat ($7.5 billion), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the volume of household deposits in national currency grew by 16.27 percent to 8.6 billion manat ($5 billion), accounting for 66.78 percent of all deposits.
Bank deposits of the population in foreign currency decreased by 6.56 percent (to 4.3 billion manat), amounting to 33.22 percent of all deposits of the population (at the end of 2022, the share of deposits in foreign currency amounted to 39.2 percent).
The volume of residents' bank deposits amounted to 11.7 billion manat ($6.8 billion) as of January 1, 2024, while non-residents' deposits amounted to 1.2 billion manat ($700 million). During the reporting period, residents' deposits grew by 10.76 percent, while non-residents' deposits increased by 5.79 percent.
Overall, as of January 1, 2024, the volume of deposits in banks in Azerbaijan is estimated at 36.9 billion manat ($21.6 billion), which is 1.97 percent more than the figure for the same period last year.
Meanwhile, 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.
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