Number of client accounts in Azerbaijani banks increases

Finance Materials 20 September 2021 18:57 (UTC +04:00)
Number of client accounts in Azerbaijani banks increases

BAKU, Azerbaijan, Sept. 20

By Zeyni Jafarov - Trend:

The number of client accounts in Azerbaijani banks increased by 3.7 million, or 18.7 percent, as of the beginning of August 2021, compared to the same period of 2020 – from more than 20 million to 23.8 million accounts, Trend reports via Central Bank of Azerbaijan (CBA).

A significant part (over 85 percent) in the structure of client accounts was occupied by current accounts – 20.3 million against 17 million for seven months of 2020 (an annual increase of 3 million, or 18 percent). Almost all current accounts belonged to individuals – about 20 million.

The number of credit accounts, which make up 13.7 percent of the structure of customer accounts, increased by 643,000, or 25 percent, from 2.6 million to 3.2 million, and the share of deposit accounts accounted for 1 percent, or about 240,000 (205,000 a year earlier).

By the beginning of August, relative to the same period of 2020, the number of bank customers increased (by 2 million / 25 percent) – from 8.6 million to 10.7 million, of which about 10.6 million are individuals, 123,000 are legal entities.

At the moment there are 26 banks operating in Azerbaijan, 2 of which are state – owned, 24 are private.


Follow the author on Twitter: @jafarov_zeyni