BAKU, Azerbaijan, July 23. The bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) grew by 11.23 percent to 14.1 billion manat ($8.2 billion) in June 2024 (12.7 billion manat ($7.4 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 15.86 percent to 9.3 billion manat ($5.4 billion), amounting to 66.07 percent of all deposits.
Bank deposits of the population in foreign currency increased by 3.21 percent (up to 4.8 billion manat ($2.8 billion)), amounting to 33.92 percent of all deposits of the population (in the same period last year, the share of deposits in foreign currency was 36.56 percent).
The volume of bank deposits of residents was 12.8 billion manat ($7.5 billion) as of July 1, 2024, while non-residents' deposits amounted to 1.2 billion manat ($705 million). During the reporting period, residents' deposits increased by 12.79 percent, and non-residents' deposits decreased by 2.19 percent.
Overall, the volume of deposits in banks in Azerbaijan is estimated at 38.2 billion manat ($22.4 billion) as of July 1, 2024, which is 10.72 percent more than in the same period 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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