BAKU, Azerbaijan, September 27. The total volume of bank deposits of Azerbaijan's population as of August 31, 2024, increased by 1.6 billion manat ($940 million) (12.76 percent) compared to the same period of 2023 - from 12.5 manat billion ($7.3 billion) to 14.1 billion manat ($8.2 billion).
The data obtained by Trend from the country's Central Bank (CBA) shows that Baku accounted for 88.78 percent (12.5 billion manat ($7.3 billion)) of all bank deposits in the country, while regions accounted for 11.22 percent (1.5 billion manat ($881 million)).
At the same time, 66.06 percent (9.3 billion manat ($5.4 billion)) of the population's bank deposits were in national currency and 33.94 percent (4.8 billion manat ($2.8 billion)) - in foreign currency.
The average annual deposit rate in the country amounted to 4.17 percent (4.05 percent in Baku).
Distribution of bank deposits by regions of Azerbaijan (as of August 31, 2024):
| Volume of deposits (in manat) | Average interest rate | Share of total deposits | |
| Azerbaijan | 14.1 billion manat ($8.2 billion) | 4,17 percent | 100,00 percent |
| Baku | 12.5 billion manat ($7.3 billion) | 4,05 percent | 88,78 percent |
| Economic regions, incl. : | 1.5 billion manat ($881 million) | 11,22 percent | |
| Nakhchiva | 70.3 million manat ($41.2 million) | 3,39 percent | 0,50 percent |
| Absheron-Khizi | 453.2 million manat ($266.2 million) | 5,99 percent | 3,20 percent |
| Mountainous Shirvan | 43.7 million manat ($25.6 million) | 4,43 percent | 0,31 percent |
| Ganja-Dashkesan | 221.6 million manat ($130.2 million) | 5,80 percent | 1,56 percent |
| Karabakh | 85 million manat ($49.9 million) | 4,47 percent | 0,60 percent |
| Gazakh-Tovuz | 109.4 million manat ($64.2 million) | 5,49 percent | 0,77 percent |
| Guba-Khachmaz | 134.9 million manat ($79.3 million) | 5,07 percent | 0,95 percent |
| Lankaran-Astara | 122.5 million manat ($72 million) | 5,09 percent | 0,86 percent |
| Central Aran | 116.7 million manat ($68.6 million) | 4,94 percent | 0,82 percent |
| Mil-Mugan | 45.7 million manat ($26.8 million) | 3,27 percent | 0,32 percent |
| Shaki-Zagatala | 120.3 million manat ($70.7 million) | 4,25 percent | 0,85 percent |
| East Zangezur | - | - | - |
| Shirvan-Salyan | 67.9 million manat ($39.9 million) | 3,89 percent | 0,48 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).
