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Trust for Azerbaijani manat higher in districts than in Baku

Finance Materials 1 February 2019 19:50 (UTC +04:00)

Baku, Azerbaijan, Feb. 1

By Azad Hasanli - Trend:

In 2018, bank deposits in Azerbaijani districts totaled 667.45 million manats, which is 18.44 percent more compared to 2017, Trend reports with reference to a report of the Central Bank of Azerbaijan (CBA).

The share of Azerbaijani districts was 7.97 percent in the total bank deposits in the country in 2018.

Around 76.8 percent (513.02 million manats) of all deposits in the country's districts account for savings in the national currency. For comparison, in Baku, the share of manat deposits is 34.11 percent.

In 2018 in Baku, the deposits amounted to 7.7 billion manats, including 2.6 billion manats in national currency.

In 2018, the average annual interest rate on loans was 3.7 percent in the country's regions and 3.5 percent in Baku.

Bank deposits in Azerbaijan as of late 2018:

Economic regions

Deposits (1,000 manats)

Average interest rate (%)

Absheron

192,700

5.9

Aran

112,778.3

4.2

Mountainous Shirvan

15,882.1

5.2

Ganja-Gazakh

162,151.3

4.5

Guba-Khachmaz

53,153.1

5.8

Lankaran

46,149.9

6.2

Shaki-Zagatala

36,618.8

4

Upper-Karabakh

10,900.9

3.3

Kalbajar-Lachin

0

0

Nakhchivan

37,116.1

1.8

(1 USD = 1.7 AZN on Feb. 1)

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Follow the author on Twitter: @Hasanli_Azad

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