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Azerbaijan records decrease in Jan. 2021 population's bank deposits

Finance Materials 5 March 2021 15:21 (UTC +04:00)
Azerbaijan records decrease in Jan. 2021 population's bank deposits

BAKU, Azerbaijan, Mar.5

By Zeyni Jafarov - Trend:

The volume of bank deposits of Azerbaijan’s population, including individual entrepreneurs, made up nearly 8.2 billion manat ($4.8 billion) in January 2021, which is by 4.5 percent less than in the same month of 2020, Trend reports citing a statistical report from the Central Bank of Azerbaijan (CBA).

According to the CBA, in the reporting month the volume of deposits of the population, including individuals, in national currency decreased by 3.6 percent for the year up to 4.05 billion manat ($2.38 billion), which is 49.3 percent of the total volume.

Meanwhile, deposits of the population in foreign currency amounted to slightly over 4.1 billion manat ($2.4 billion), down by 5.3 percent year on year, which is 50.7 percent of the total volume.

The deposits of residents and non-residents amounted to over 7.9 billion manat ($4.6 billion) and 286 million manat ($168.2 million), respectively. In annual terms, investments of residents have dropped by 248.4 million manat or $146.1 million (3.7 percent), and non-residents – 137.1 million manat or $80.6 million (32.4 percent).

In January this year, the volume of deposits and deposits in Azerbaijani banks is equal to 23.2 billion manat ($13.6 billion), which is 6.6 percent less compared to the same month of 2020.

(1 USD = 1.7 AZN on Mar.5)

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