BAKU, Azerbaijan, November 27. Bank deposits, including those of individual entrepreneurs, in Azerbaijan grew by 13.55 percent to 14.26 billion manat ($8.39 billion) in October 2024, compared to 12.56 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 16.46 percent, reaching 9.48 billion manat ($5.58 billion), which accounts for 66.46 percent of all deposits.
Meanwhile, deposits in foreign currency rose by 8.18 percent to over 4.78 billion manat ($2.8 billion), representing 33.53 percent of total deposits versus 35.19 percent of the share of foreign currency deposits in the same period last year.
As of November 1, 2024, residents held 13 billion manat ($7.65 billion) in bank deposits, reflecting a 15.92 percent increase, while non-residents' deposits decreased by 6.7 percent.
Overall, as of November 1 this year, the total volume of deposits in Azerbaijani banks reached 37 billion manat ($21.7 billion), a 5.8 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).