BAKU, Azerbaijan, August 29. The total volume of bank deposits of Azerbaijan's population as of July 31, 2024, increased by 1.2 billion manat ($705 million) (9.9 percent) compared to the same period of 2023 - from 12.7 billion manat ($7.4 billion) to 13.9 billion manat ($8.1 billion), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the share of Baku accounted for 88.76 percent (12.3 billion manat ($7.2 billion)) of all bank deposits in the country, while the share of regions was 11.24 percent (1.5 billion manat ($882 million)).
Meanwhile, 66.27 percent (9.2 billion manat ($5.4 billion)) of the population's bank deposits were in national currency, and 33.73 percent (4.7 billion manat ($2.7 billion)) were in foreign currency.
The average annual deposit rate in the country amounted to 4.17 percent (4.04 percent in Baku).
| Volume of deposits (in manat) | Average interest rate | Share of total deposits | |
| Azerbaijan | 13.9 billion manat ($8.1 billion) | 4,17 percent | 100,00 percent |
| Baku | 12.3 billion manat ($7.2 billion) | 4,04 percent | 88,76 percent |
| Economic areas including : | 1.5 billion manat ($882 million) | 11,24 percent | |
| Nakhchivan | 68.5 million manat ($40.2 million) | 3,42 percent | 0,49 percent |
| Absheron-Khizi | 451.8 million manat ($265.7 million) | 5,88 percent | 3,24 percent |
| Mountainous Shirvan | 42.9 million manat ($25.2 million) | 4,33 percent | 0,31 percent |
| Ganja-Dashkasan | 218.7 million manat ($128.6 million) | 5,81 percent | 1,57 percent |
| Karabakh | 82.9 million manat ($48.7 million) | 4,58 percent | 0,59 percent |
| Gazakh-Tovuz | 108.7 million manat ($63.9 million) | 5,62 percent | 0,78 percent |
| Guba-Khachmaz | 128.5 million manat ($75.5 million) | 5,15 percent | 0,92 percent |
| Lankaran-Astara | 122.1 million manat ($71.8 million) | 5,07 percent | 0,87 percent |
| Central Aran | 115.2 million manat ($67.7 million) | 4,99 percent | 0,83 percent |
| Mil-Mugan | 45.3 million manat ($26.6 million) | 3,24 percent | 0,33 percent |
| Shaki-Zagatala | 119.3 million manat ($70.1 million) | 4,32 percent | 0,85 percent |
| East Zangezur | - | - | - |
| Shirvan-Salyan | 64.9 million manat ($38.1 million) | 3,94 percent | 0,46 percent |
To note, the total volume of bank deposits of the population of Azerbaijan as of December 31, 2023, increased by 1.2 billion manat ($705 million) (10.26 percent) compared to the same period of 2022 - from 11.7 billion manat ($6.8 billion) to 12.9 billion manat ($7.5 billion).
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