BAKU, Azerbaijan, May 27. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) in April 2024 increased by 10.53 percent to 13.4 billion manat ($7.8 billion) (12.2 billion manat ($7.1 billion) in the same period last year), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the volume of household deposits in national currency increased by 15.76 percent to 8.8 billion manat ($5.1 billion), amounting to 65.74 percent of all deposits.
Bank deposits of the population in foreign currency increased by 1.71 percent (up to 4.6 billion manat ($2.7 billion)), amounting to 34.25 percent of all deposits of the population (in the same period last year, the share of deposits in foreign currency was 37.22 percent).
Furthermore, the volume of residents' bank deposits amounted to 12.2 billion manat ($7.1 billion) as of May 1, 2024, while non-residents' deposits amounted to 1.2 billion manat ($705,000). During the reporting period, residents' deposits increased by 11.08 percent, and non-residents' by 5.43 percent.
However, as of May 1, 2024, the volume of deposits in Azerbaijan's banks is estimated at 37.5 billion manat ($22 billion), which is 6.66 percent more than in the same period of last year.
To note, at the end of 2023, bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 12.9 billion manat ($7.5 billion).
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