BAKU, Azerbaijan, January 30. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) increased by 13.24 percent to 14.6 billion manat ($8.5 billion) in December 2024 (12.9 billion manat ($7.5 billion) in the same period last year), Trend reports via CBA.
According to the Central Bank of Azerbaijan (CBA), the volume of household deposits in national currency increased by 12.54 percent to 9.7 billion manat ($5.7 billion), totaling 66.36 percent of all deposits.
Furthermore, bank deposits of the population in foreign currency increased by 14.65 percent (up to 4.9 billion manat ($2.8 billion)), amounting to 33.64 percent of all deposits of the population (in the same period last year, the share of deposits in foreign currency totaled 33.22 percent).
The volume of bank deposits of residents constituted 13.3 billion manat ($7.8 billion); non-residents, 1.3 billion manat ($764 million). Residents' deposits grew by 13.91 percent and non-residents' deposits by 6.9 percent during the reporting period.
Overall, the volume of deposits in banks in Azerbaijan is estimated at 37.6 billion manat ($22.1 billion) as of January 1, 2025, which is 8.94 percent more than the same period last year.
To note, following the results of 2023, bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) totaled 12.9 billion manat ($7.5 billion).