BAKU, Azerbaijan, June 28. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) in May 2024 increased by 10.31 percent to 13.6 billion manat ($8 billion) (12.4 billion manat ($7.2 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 grew by 16.21 percent to 8.9 billion manat ($5.2 billion), amounting to 65.3 percent of all deposits.
Bank deposits of the population in foreign currency increased by 0.68 percent (up to 4.7 billion manat ($2.7 billion)), amounting to 34.69 percent of all deposits of the population (in the same period last year, the share of deposits in foreign currency accounted for 38.01 percent).
However, the volume of residents' bank deposits amounted to 12.3 billion manat ($7.2 billion) as of June 1, 2024, while non-residents' deposits amounted to 1.3 billion manat ($764 million). During the reporting period, residents' deposits increased by 11.81 percent, and non-residents' deposits decreased by 2.09 percent.
Overall, the volume of deposits in banks in Azerbaijan is estimated at 37.4 billion manat ($22 billion) for the first of June 2024, which is 5.87 percent more than the indicator of the same period last year.
To note, by 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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