BAKU, Azerbaijan, July 23. The total volume of the Azerbaijani population's bank deposits grew by 1.43 billion manat, or $840 million (11.23 percent), as of June 30, 2024, from 12.7 billion ($7.6 billion) to 14.18 billion manat ($8.34 billion), Trend reports.
The Central Bank of Azerbaijan (CBA) data showed that Baku accounted for 87.94 percent of all bank deposits in the country (12.47 billion manat, or $7.34 billion), while the regions accounted for 12.06 percent (1.7 billion manat, or $1 billion).
Approximately 66.07 percent of the population's bank deposits, totaling 9.37 billion manat ($5.5 billion), were in the national currency, while the remaining 33.93 percent, amounting to 4.8 billion manat or $2.77 billion, were in foreign currency.
Azerbaijan's average yearly deposit rate was 3.89 percent, while Baku's was 3.8 percent.
Distribution of bank deposits by Azerbaijani regions (as of June 30, 2024):
|
Deposits |
Average interest rate (percent) |
Share of total deposit (percent) |
|
|
Azerbaijan |
14.18 billion manat ($8.34 billion) |
3.89 |
100 |
|
Baku |
12.47 billion manat ($7.34 billion) |
3.8 |
87.94 |
|
Economic regions, including: |
1.7 billion manat ($1 billion) |
12.06 |
|
|
Nakhchivan |
79.97 million manat ($47 million) |
2.72 |
0.56 |
|
Absheron-Khizi |
459.39 million manat ($270 million) |
5.65 |
3.24 |
|
Mountainous Shirvan |
49.77 million manat ($29.28 million) |
3.52 |
0.35 |
|
Ganja-Dashkasan |
237 million manat ($139.4 million) |
5.23 |
1.67 |
|
Karabakh |
95.57 million manat ($56 million) |
3.76 |
0.67 |
|
Gazakh-Tovuz |
121.9 million manat ($71.7 million) |
4.81 |
0.86 |
|
Guba-Khachmaz |
137 million manat ($80.6 million) |
4.58 |
0.97 |
|
Lankaran-Astara |
137.4 million manat ($80.8 million) |
4.36 |
0.97 |
|
Central Aran |
127.58 million manat ($75 million) |
4.35 |
0.9 |
|
Mil-Mughan |
53 million manat ($31 million) |
2.62 |
0.37 |
|
Shaki-Zagatala |
133 million manat ($78.2 million) |
3.69 |
0.94 |
|
Eastern Zangezur |
- |
- |
- |
|
Shirvan-Salyan |
77.9 million manat ($45.8 million) |
3.11 |
0.55 |
To note, the overall volume of Azerbaijan's population's bank deposits increased by 1.2 billion manat, or $708.2 million (10.26 percent), year on year, from 11.7 billion ($6.9 billion) to 12.9 billion manat ($7.6 billion) as of December 31, 2023.