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Volume of bank deposits down in Azerbaijani districts

Business Materials 9 September 2017 17:58 (UTC +04:00)

Baku, Azerbaijan, Sept. 9

By Anvar Mammadov – Trend:

As of August 1, 2017, the population’s bank deposits in Azerbaijani districts (except for Baku) totaled 508.84 million manats, that is, 7.4 percent of all deposits, according to the report of the Central Bank of Azerbaijan (CBA).

For comparison, the share of bank deposits in districts was 8.2 percent (564.93 million manats) in late July 2016.

The volume of deposits in the districts decreased in July 2017 amid the decrease in deposits in the country.

As of late July 2016, the population kept deposits worth 7.84 billion manats in the banks.

As of August 1, 2017, this figure decreased to 6.86 billion manats.

As of early August 2017, the amount of deposits in Baku totaled 6.35 billion manats.

The average annual deposit rate throughout the country reached 4.6 percent, and on Baku – 4.5 percent in July 2017.

Distribution of bank deposits in Azerbaijani districts:

Districts

Amount of deposits (thousand manats)

Average interest rate (%)

Absheron

157,889.8

6.3

Aran

85,199.2

4.9

Mountain Shirvan

11,675.9

5.7

Ganja-Gazakh

109,525.3

6.1

Guba-Khachmaz

36,719.8

5.6

Lankaran

36,575.3

7

Sheki-Zagatala

29,865.5

4.7

Upper-Karabakh

6,727.2

3.1

Kalbajar-Lachin

392.5

7.1

Nakhchivan

34,265.4

2.2

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