Azerbaijan sees growth in its population's bank deposits

Economy Materials 22 October 2021 16:51 (UTC +04:00)
Azerbaijan sees growth in its population's bank deposits

BAKU, Azerbaijan, Oct.22


The total value of bank deposits of the population in Azerbaijan grew in September 2021, Trend reports citing a statistical report from the country's Central Bank (CBA).

According to the CBA, this value exceeded 8.6 billion manat ($5 billion, up by 3.1 percent on annual basis), which is the highest indicator since October 2019.

Besides, in the 9th month of this year, the volume of dollar deposits of individuals lowered by 7.2 percent since the early 2021 and made up 43.6 percent. Meanwhile, the bank deposits of individuals in Azerbaijan in foreign currency decreased by 367.6 million manat ($216.2 million) on annual basis.

From January through September 2021, the total net profit of the Azerbaijani banks amounted to 505.6 million manat ($297.4 million) and the operational profit – 723.8 million ($425.7 million).

(1 USD = 1.7 AZN on Oct.22)