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Azerbaijani regions see increase in bank deposits

Finance Materials 8 April 2019 13:29 (UTC +04:00)

Baku, Azerbaijan, April 8

By Kheyraddin Nasirzade - Trend:

Bank deposits of the population of Azerbaijani districts as of late February 2019 made up 682,760,000 million manats, which is 12.48 percent more compared to the same period from last year, according to a report of the Central Bank of Azerbaijan (CBA), Trend reports.

The share of Azerbaijani districts in the total volume of all bank deposits in the country as of late February 2019 was 8.31 percent.

Around 78.4 percent (535.34 million manats) of all deposits in the country's districts for the recording period account for savings in the national currency. For comparison, the share of manat deposits in Baku made up 37.13 percent.

In late January 2019, the volume of deposits in Baku amounted to 7.5 billion manats, including 2.8 billion manats in the national currency.

The average annual interest rate on loans for February 2019 was 3.7 percent in the country's regions and 3.6 percent in Baku.

Bank deposits in Azerbaijani districts (as of late February 2019):

Economic regions

Deposits (1,000 manats)

Average interest rate (%)

Absheron

194,796.6

6.3

Aran

124,996.8

4.0

Mountainous Shirvan

19,630.2

4.3

Ganja-Gazakh

143,183.0

5.4

Guba-Khachmaz

56,931.3

5.6

Lankaran

50,273.7

6.0

Shaki-Zagatala

41,689.6

3.8

Upper Karabakh

12,287.3

3.1

Kalbajar-Lachin

0.0

0.0

Nakhchivan

38,974.3

1.8

($1=1.7 AZN on April 8)

Follow the author on Twitter: @1nasirzade

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