BAKU, Azerbaijan, March 29. As of February 29, 2024, the total volume of Azerbaijan's population's bank deposits grew by 1.36 billion manat, or $800 million (11.47 percent), from 11.9 billion ($7 billion) to 13.26 billion manat ($7.8 billion), Trend reports via the Central Bank of Azerbaijan (CBA).
The Central Bank of Azerbaijan (CBA) data showed that Baku accounted for 88.59 percent of all bank deposits in the country (11.7 billion manat, or $6.88 billion), while the regions - 11.41 percent (1.5 billion manat, or $880 million).
At the same time, 64.67 percent of the population's bank deposits (8.57 billion manat, or $5 billion) were in national currency, while 35.33 percent (4.68 billion manat, or $2.7 billion) - in foreign currency.
Azerbaijan's average yearly deposit rate was 3.81 percent, while Baku's was 3.68 percent.
Distribution of bank deposits by Azerbaijani regions (as of February 29, 2024):
|
Deposits |
Average interest rate (percent) |
Share of total deposit (percent) |
|
|
Azerbaijan |
13.26 billion manat ($7.8 billion) |
3.81 |
100 |
|
Baku |
11.7 billion manat ($6.88 billion) |
3.68 |
88.59 |
|
Economic regions, including: |
1.5 billion manat ($880 million) |
11.41 |
|
|
Nakhchivan |
66.5 million manat ($39 million) |
2.94 |
0.5 |
|
Absheron-Khizi |
431.6 million manat ($253.88 million) |
5.7 |
3.25 |
|
Mountainous Shirvan |
38.9 million manat ($22.88 million) |
4.2 |
0.29 |
|
Ganja-Dashkasan |
210.39 million manat ($123.7 million) |
5.48 |
1.59 |
|
Karabakh |
84.3 million manat ($49.59 million) |
3.87 |
0.64 |
|
Gazakh-Tovuz |
105.58 million manat ($62 million) |
5.18 |
0.8 |
|
Guba-Khachmaz |
124.7 million manat ($73.3 million) |
4.73 |
0.94 |
|
Lankaran-Astara |
120 million manat ($70.59 million) |
4.77 |
0.9 |
|
Central Aran |
112.25 million manat ($66 million) |
4.63 |
0.85 |
|
Mil-Mughan |
42.55 million manat ($25 million) |
2.91 |
0.32 |
|
Shaki-Zagatala |
115.88 million manat ($68 million) |
3.87 |
0.87 |
|
Eastern Zangazur |
- |
- |
- |
|
Shirvan-Salyan |
61.4 million manat ($36 million) |
3.74 |
0.46 |
To note, the overall volume of Azerbaijan's population's bank deposits increased by 1.2 billion manat or $708.2 million (10.26 percent), year on year, from 11.7 billion ($6.9 billion) to 12.9 billion manat ($7.6 billion) as of December 31, 2023.