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Over 7% of Azerbaijani bank deposits accounts for country’s districts

Business Materials 12 December 2017 16:53 (UTC +04:00)

Baku, Azerbaijan, Dec. 12

By Anvar Mammadov – Trend:

As of Nov. 1, 2017, the population’s bank deposits in Azerbaijani districts (except for Baku) totaled 540.14 million manats, which is 7.4 percent of all bank deposits, according to the report of the Central Bank of Azerbaijan (CBA).

For comparison, as of late October, 2016, the population’s bank deposits in Azerbaijani districts (except for Baku) totaled 490.36 million manats, which is 6.6 percent of all bank deposits.

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

In October 2016, the population kept deposits worth 7.41 billion manats in the banks.

As of November 1, 2017, this figure decreased to 7.28 billion manats.

As of early November 2017, the volume of population’s bank deposits in Baku amounted to 6.73 billion manats.

The average annual deposit rate throughout the country reached 4.5 percent, and on Baku – 4.4 percent in October 2017.

Distribution of bank deposits in Azerbaijani districts:

Districts

Amount of deposits (thousand manats)

Average interest rate (%)

Absheron

159,061.1

7

Aran

95,181.8

4.8

Mountain Shirvan

12,440.4

5.2

Ganja-Gazakh

118,320.1

6.4

Guba-Khachmaz

38,428.5

6.7

Lankaran

39,148.5

6

Sheki-Zagatala

33,106.9

4.4

Upper-Karabakh

8,302.1

3.4

Kalbajar-Lachin

1,365.3

9.3

Nakhchivan

34,783.1

2.4

(1.7 manats = $1 on Dec. 12)

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