BAKU, Azerbaijan, February 27. The total volume of bank deposits of the Azerbaijani population increased by 2.29 billion manat ($1.3 billion), or 23.79 percent, as of January 31, 2023, compared to the same period in 2022, from 9.6 billion manat ($5.6 billion) up to 11.9 billion manat ($7 billion), Trend reports via the Central Bank of Azerbaijan (CBA).
According to the CBA, a total of 10.6 billion manat ($6.24 billion), or 89.07 percent of all bank deposits, fell on Baku, while 1.3 billion manat ($760 million), or 10.93 percent, – on the districts.
Meanwhile, 61.19 percent (7.2 billion manat, or $4.2 billion) of bank deposits were in national currency, whereas 38.81 percent (4.6 billion manat, or $2.7 billion) were in foreign currency.
The average annual deposit rate as of January 31, 2023, in the country was 3.39 percent, while in Baku – 3.23 percent.
Regional distribution of bank deposits in Azerbaijan (as of January 31, 2023):
|
Deposits |
Average interest rate (percent) |
Share of total deposits (percent) |
|
|
Azerbaijan |
11.9 billion manat ($7 billion) |
3.39 |
100.00 |
|
Baku |
10.6 billion manat ($6.2 billion) |
3.23 |
89.07 |
|
Economic regions. including: |
1.3 billion manat ($764.7 million) |
10.93 |
|
|
Nakhchivan |
57.6 million manat ($33.8 million) |
2.41 |
0.48 |
|
Absheron-Khizi |
377.1 million manat ($221.8 million) |
5.65 |
3.16 |
|
Mountainous Shirvan |
34.3 million manat ($20.1 million) |
3.63 |
0.29 |
|
Ganja-Dashkesan |
182.6 million manat ($107.4 million) |
5.29 |
1.53 |
|
Karabakh |
76.02 million manat ($44.7 million) |
3.87 |
0.64 |
|
Gazakh-Tovuz |
93.5 million manat ($55 million) |
4.5 |
0.78 |
|
Guba-Khachmaz |
99.5 million manat ($58.5 million) |
5.13 |
0.83 |
|
Lankaran-Astara |
105.5 million manat ($62.06 million) |
4.8 |
0.88 |
|
Central Aran |
94.5 million manat ($55.5 million) |
4.18 |
0.79 |
|
Mil-Mughan |
38.5 million manat ($22.6 million) |
2.74 |
0.32 |
|
Shaki-Zagatala |
90.5 million manat ($53.2 million) |
3.46 |
0.76 |
|
Eastern Zangazur |
- |
- |
- |
|
Shirvan-Salyan |
53.4 million manat ($31.4 million) |
3.39 |
0.45 |
The total volume of bank deposits of the Azerbaijani population as of December 31, 2022, amounted to 11.7 billion manat ($6.8 billion).