Baku, Azerbaijan, Mar. 12
By Sara Israfilbayova - Trend:
Azerbaijan’s Aran and Sheki-Zagatala economic regions are leading in terms of the rate of growth in bank deposits, Trend reports referring to a report of the Central Bank of Azerbaijan (CBA).
According to the report, the volume of deposits in the Aran economic region amounted to 126.3 million manats, and to 40.6 million manats in the Sheki-Zagatala economic region – both accounting for 25 percent of all deposits in the country’s regions.
Over the year, banks in these areas increased their deposits by 33.4 and 26.5 percent, respectively.
It is noteworthy nonetheless that both economic regions show some of the lowest interest rates on deposits. As such, the rates are at 3.9 percent in the Aran economic region, and 3.8 percent in Sheki-Zagatala. Average interest rates for other districts range from 5 to 6 percent.
Bank deposits of the residents of Azerbaijani regions as of late January 2019 amounted to 667.14 million manats (an increase of 16.9 percent over the year). Azerbaijan regions accounted for 8.2 percent of all bank deposits in the country.
Azerbaijan's Aran economic region includes 15 districts (Agdash, Agjabadi, Barda, Beylagan, Bilasuvar, Goychay, Hajigabul, Imishli, Kurdamir, Neftchala, Saatli, Sabirabad, Salyan, Ujar, Zardab), along with Mingachevir, Yevlakh and Shirvan cities.
The Sheki-Zagatala economic region includes: Balakan, Gakh, Gabala, Oguz, Zagatala, Shaki districts.
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