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Azerbaijan sees increase in bank deposits of population

Finance Materials 23 December 2022 14:10 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 23. The total deposits of the Azerbaijani population increased by 2.5 billion manat ($1.4 billion), or 29.03 percent, as of November 30, 2022, compared to the same month the previous year, - from 90.5 billion manat ($53.24 billion) up to 11.5 billion manat ($6.7 billion), Trend reports citing the Central Bank of Azerbaijan (CBA).

According to the CBA, a total of 10.2 billion manat ($6 billion), or 88.59 percent of all bank deposits, fell on Baku, while 1.3 billion manat ($760 million), or 11.3 percent, – on the districts.

Meanwhile, 61.12 percent (7.08 billion manat, or $4.16 billion) of bank deposits were in national currency, whereas 38.88 percent (4.5 billion manat, or $2.6 billion) – were in foreign currency.

The average annual deposit rate as of November 30, 2022, was 3.337 percent, while in Baku – 3.22 percent.

Regional distribution of bank deposits in Azerbaijan (as of November 30, 2022):

Deposits

Average interest rate (percent)

Share of total deposits(percent)

Manat

USD

Azerbaijan

11.5 billion

$6.76 billion

3.37

100

Baku

10.2 billion

$6 billion

3.22

88.59

Economic regions, including:

1.322 billion

$777.65 billion

11.41

Nakhchivan

73.4 million

$43.1 million

1.98

0.63

Absheron-Khizi

380.1 million

$223.5 million

5.39

3.28

Mountainous Shirvan

33.9 million

$19.9 million

3.57

0.29

Ganja-Dashkesan

182.6 million

$107.4 million

5.17

1.58

Karabakh

71.4 million

$42 million

3.87

0.62

Gazakh-Tovuz

89.4 million

$52.5 million

4.44

0.77

Guba-Khachmaz

104.4 million

$61.4 million

4.75

0.9

Lankaran-Astara

100.8 million

$59.2 million

4.92

0.87

Central Aran

96.2 million

$56.5 million

4.03

0.83

Mil-Mughan

42.8 million

$25.1 million

2.52

0.37

Shaki-Zagatala

91.5 million

$53.8 million

3.34

0.79

East Zangazur

-

-

-

-

Shirvan-Salyan

55.8 million

$32.8 million

3.16

0.48

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