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Azerbaijan sees Jan.2021 growth of national currency deposits in local banks

Finance Materials 25 February 2021 15:34
Azerbaijan sees Jan.2021 growth of national currency deposits in local banks

BAKU, Azerbaijan, Feb.25

By Zeyni Jafarov - Trend:

The total value of deposits in Azerbaijan amounted to 23.2 billion manat ($13.6 billion) in January 2021, which is by 6.6 percent less than in January 2020, Trend reports citing a report from the Central Bank of Azerbaijan (CBA).

According to the CBA, in the reporting month, the value of nonfinancial organizations’ deposits shrank by 9.3 percent over the year, amounting to 13.15 billion manat ($7.7 billion).

As for the volume of deposits of individuals, it decreased by 4.5 percent for the year down to 8.2 billion manat ($4.8 billion).

Besides, deposits in foreign currency amounted to 13.09 billion manat ($7.7 billion), declining by 13.9 percent compared to early 2020.

At the same time, in January 2021, the value of deposits in the national currency grew by 4.8 percent compared to the figure as of January last year, reaching 10.1 billion manat ($5.9 billion).

(1 USD = 1.7 AZN on Feb.23)

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