BAKU, Azerbaijan, September 30. Bank deposits in Azerbaijan, including those of individuals engaged in entrepreneurial activities, grew by 12.76 percent to 14.185 billion manat, or $8.34 billion, in August 2024, compared to 12.58 billion manat, or $7.40 billion, in the same period last year, Trend reports.
According to the Central Bank of Azerbaijan (CBA), deposits in the national currency increased by 16.88 percent, reaching 9.371 billion manat, or $5.51 billion, which accounts for 66.06 percent of all deposits.
Meanwhile, deposits in foreign currency rose by 5.51 percent to 4.813 billion manat, or $2.82 billion, representing 33.93 percent of total deposits. In the same period last year, the share of foreign currency deposits was 36.26 percent.
As of September 1, 2024, residents held 12,974 billion manat or $7,631 billion in bank deposits, reflecting a 15.43 percent increase, while non-residents' deposits decreased by 9.65 percent.
Overall, as of September 1, 2024, the total volume of deposits in Azerbaijani banks reached 37.397 billion manat, or $22billion, an 8.95 percent increase compared to the same period last year.
At the end of 2023, bank deposits in Azerbaijan, including those of individual entrepreneurs, amounted to 12.947 billion manat, or $7.615 billion.