BAKU, Azerbaijan, December 26. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) grew by 8.08 percent (up to 12.5 billion manat, or $7.3 billion) from January through November 2023, Trend reports via the Central Bank of Azerbaijan (CBA).
The CBA's data showed that the volume of deposits by the population in national currency increased by 16.27 percent to 8.2 billion manat ($4.8 billion), accounting for 65.75 percent of all deposits.
Bank deposits of the population in foreign currency decreased by 4.8 percent (to 4.28 billion manat, or $2.5 billion), amounting to 34.25 percent of all deposits of the population (the share of deposits in foreign currency amounted to 39.2 percent in 2022).
The volume of residents' bank deposits amounted to 11.29 billion manat ($6.6 billion), and nonresidents' deposits amounted to 1.2 billion manat ($710 million) as of December 1, 2023. Residents' deposits increased by 7.32 percent and non-residents' deposits by 15.56 percent during the reporting period.
In general, the volume of deposits in banks in Azerbaijan is estimated at 35.1 billion manat ($20.6 billion) as of December 1, 2023, one percent down year-on-year.
Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 11.7 billion manat ($6.8 billion) in 2022.