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Number of bank accounts in Azerbaijan’s Nakhchivan increased in 2020

Finance Materials 26 January 2021 16:20
Number of bank accounts in Azerbaijan’s Nakhchivan increased in 2020

BAKU, Azerbaijan, Jan. 26

By Zeyni Jafarov - Trend:

As of early January 2021, the number of bank accounts opened in banks of Azerbaijan’s Nakhchivan Autonomous Republic reached 92,300, Trend reports with reference to the report of the State Statistics Committee of the Nakhchivan Autonomous Republic.

This indicator reflects an annual growth of 7,400 accounts (8.7 percent).

In accordance with the report, 80,440 bank accounts, or 87.1 percent are active. Some 36,520 out of 36,540 bank accounts opened in 2020 have an active status.

In total, banks and credit organizations of the Nakhchivan Autonomous Republic issued the loans to legal entities and individuals in the amount of about 179.5 million manat ($105.6 million) in 2020.

The implementation of the "Program expanding the implementation of digital payment services and non-cash settlements in the Nakhchivan Autonomous Republic for 2019-2022", approved upon the order of the Chairman of the Supreme Mejlis of the Nakhchivan Autonomous Republic dated August 9, 2019, creates new opportunities for the development of the infrastructure of electronic payments, accelerating turnover of financial resources and reduction of cash payments in Nakhchivan.

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