Bank deposits increase in Azerbaijani regions

Baku, Azerbaijan, Sept. 1

By Eldar Janashvili – Trend:

As of July 2019, the total volume of deposits in Azerbaijan made up 22.38 billion manats, which is 9.2 percent more compared to the same period of 2018, Trend reports referring to a report by the Central Bank of Azerbaijan (CBA).

The volume of deposits of non-financial organizations increased by 12.1 percent compared to July 2018 (10.9 billion manats), amounting to 12.2 billion manats. The total volume of deposits of legal entities reached 13.8 billion manats. The deposits of individuals also increased by 6.6 percent and reached 8.58 billion manats.

According to the results of July 2019, deposits in foreign currency amounted to 14 billion manats, which is 0.8 percent less than the same period last year.

Significant growth of deposits in the national currency is observed, which increased by 31.1 percent compared to July last year, reaching 8.4 billion manats.

The total bank deposits of the population of the regions of Azerbaijan amounted to 752.769 million manats at the end of July 2019, which is 22 percent more than the same period last year.

The regions of Azerbaijan accounted for 8.8 percent of all bank deposits in the country for the aforementioned period.

About 81.1 percent (610.85 million manats) of all deposits in the country's regions accounted for savings in national currency. For comparison, manat deposits accounted for 40 percent in Baku. As of late July, the volume of deposits in Baku amounted to 7.82 billion manats, including 3.1 billion in national currency.

The average annual interest rate on loans for the aforementioned period was 3.8 percent in the country's regions and 3.6 percent in Baku.

Bank deposits in Azerbaijani regions (as of late July 2019):

($1 = 1.7 AZN on Sept. 1)

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