BAKU, Azerbaijan, February 28. The overall volume of Azerbaijan's population's bank deposits increased by 1.2 billion manat, or $698.2 million (9.96 percent), year on year, from 11.9 billion ($7.02 billion) to 13.1 billion manat ($7.7 billion) as of January 31, 2024, Trend reports via the Central Bank of Azerbaijan (CBA).
According to CBA data, Baku accounted for 88.7 percent of all bank deposits in the country (11.6 billion manat, or $6.8 billion), whereas regions accounted for 11.3 percent (1.5 billion manat, or $871.2 million).
At the same time, 65.04 percent of the population's bank deposits (8.5 billion manat, or $5 billion) were in national currency, while 34.96 percent (4.6 billion manat, or $2.7 billion) were in foreign currency.
Azerbaijan's average yearly deposit rate was 3.78 percent, while Baku's was 3.65 percent.
Distribution of bank deposits by Azerbaijani regions (as of January 31, 2023):
|
Deposits |
Average interest rate (percent) |
Share of total deposits (percent) |
|
|
Azerbaijan |
13.1 billion manat ($7.7 billion) |
3.78 |
100 |
|
Baku |
11.6 billion manat ($6.8 billion) |
3.65 |
88.70 |
|
Economic regions, including: |
1.5 billion manat ($871.6 million) |
11.30 |
|
|
Nakhchivan |
63.4 million manat ($37.3 million) |
2.95 |
0.48 |
|
Absheron-Khizi |
429.3 million manat ($249.6 million) |
5.68 |
3.24 |
|
Mountainous Shirvan |
39.7 million manat ($23.35 million) |
4.03 |
0.30 |
|
Ganja-Dashkasan |
200.1 million manat ($117.7 million) |
5.67 |
1.53 |
|
Karabakh |
87.5 million manat ($51.5 million) |
3.64 |
0.67 |
|
Gazakh-Tovuz |
100.06 million manat ($58.86 million) |
5.31 |
0.76 |
|
Guba-Khachmaz |
122.6 million manat ($72.1 million) |
4.73 |
0.94 |
|
Lankaran-Astara |
115.96 million manat ($68.2 million) |
4.89 |
0.88 |
|
Central Aran |
112.5 million manat ($65.9 million) |
4.47 |
0.86 |
|
Mil-Mughan |
43.9 million manat ($25.8 million) |
2.73 |
0.33 |
|
Shaki-Zagatala |
108.5 million manat ($63.8 million) |
4.02 |
0.83 |
|
Eastern Zangazur |
- |
- |
- |
|
Shirvan-Salyan |
63.2 million manat ($37.2 million) |
3.44 |
0.48 |