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Non-resident's deposits in Azerbaijani banks grow

Finance Materials 30 November 2022 16:58 (UTC +04:00)
Non-resident's deposits in Azerbaijani banks grow
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, November 30. The total amount of bank deposits of the Azerbaijani population (including individual businessmen) increased by 24.4 percent by the end of October 2022 compared to the same period of the previous year and totaled 11.5 billion manat ($6.7 billion), Trend reports referring to the Central Bank of Azerbaijan (CBA).

During the reporting period, bank deposits of the population in foreign currency increased by 17.2 percent – to 4.4 billion manat ($2.5 billion), making up 38.6 percent of all deposits of the population (in the same period of 2021, the specific weight of deposits in foreign currency amounted to 41 percent).

The volume of deposits of the population in the national currency by the end of October increased by 29.5 percent, up to 7.05 billion manat ($4.5 billion), amounting to 61.4 percent of all deposits.

As of November 1, 2022, the volume of bank deposits of residents reached 10.4 billion manat ($6.1 billion), and non-residents - 1.03 billion manat ($610 million). During the accounting period, resident deposits increased by 17.1 percent, while non-resident deposits increased by 3.4 percent.

In general, at the end of October 2022, the volume of deposits in banks totaled 34.8 billion manat ($20.4 billion), an increase of 19.9 percent compared to the end of 2021.

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