BAKU, Azerbaijan, October 28. Bank deposits in Azerbaijan, including those of individual entrepreneurs, grew by 11.48 percent to 14.16 billion manat ($8.33 billion) in September 2024, compared to 12.7 billion manat ($7.47 billion) in the same period last year.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) shows that deposits in the national currency increased by 13.27 percent, reaching 9.34 billion manat ($5.49 billion), which accounts for 65.98 percent of all deposits.
Meanwhile, deposits in foreign currency rose by 8.16 percent to over 4.8 billion manat ($2.83 billion), representing 34.01 percent of total deposits versus 35.05 percent of the share of foreign currency deposits in the same period last year.
As of October 1, 2024, residents held over 12.9 billion manat ($7.6 billion) in bank deposits, reflecting a 13.45 percent increase, while non-residents' deposits decreased by 5.78 percent.
Overall, as of October 1 this year, the total volume of deposits in Azerbaijani banks reached 38.33 billion manat ($22.55 billion), an 11.99 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 over 12.94 billion manat ($7.61 billion).