Deposits of legal entities in Azerbaijan exceed $8B
BAKU, Azerbaijan, Dec. 4
By Eldar Janashvili - Trend:
In October 2019, the total volume of deposits in Azerbaijan made up 23.4 billion manat ($13.7 billion), which is 6.4 percent more compared to the same period of 2018, Trend reports referring to a report by the Azerbaijani Central Bank (CBA).
The volume of deposits of non-financial organizations increased by 4 percent compared to October 2018 (11.8 billion manat, or $6.9 billion), amounting to 12.8 billion manat ($7.6 billion). The total volume of deposits of legal entities in October 2019 reached 14.6 billion manat ($8.6 billion).
The deposits of individuals increased by 5 percent and reached 8.8 billion manat ($5 billion).
In October 2019, deposits in foreign currency amounted to 14.8 billion in manat equivalent ($8.7 billion), which is by 1.3 percent more than in the same period last year.
Significant growth of deposits in the national currency is observed, which increased by 16.6 percent compared to October 2018, reaching 8.5 billion manat ($4.9 billion).
($1= 1.7 manat on Dec. 4)
Follow the author on Twitter: @eldarjanashvili