BAKU, Azerbaijan, March 30. The total volume of bank deposits of the Azerbaijani population as of February 28, 2023 increased by 1.8 billion manat ($1 billion), or 18.58 percent from 10 billion ($5.8 billion ) to 11.9 billion manat ($6.9 billion) compared to the same period in 2022, Trend reports via the Central Bank of Azerbaijan (CBA).
According to the bank, Baku accounted for 88.85 percent totaling 10.5 billion manat ($6.1 billion) of all bank deposits in the country, while its regions increased by 11.15 percent reaching 1.3 billion manat ($764 million).
At the same time, 61.32 percent accounted for 7.2 billion manat ($4.2 billion) of the population's bank deposits were in national currency, and 38.68 percent, totaling 4.6 billion manat ($2.7 billion), were in foreign currency.
Moreover, the average annual deposit rate for February 28, 2023 in the country accounted for 3.45 percent, and in the capital of country amounted 3.3 percent.
Distribution of bank deposits by Azerbaijan’s regions (as of Feb. 28, 2023)
|
Deposits |
Average interest rate (percent) |
Share of total deposits (percent) |
|
|
Azerbaijan |
11.9 billion manat ($6.9 billion) |
3.45 |
100 |
|
Baku |
10.5 billion manat ($6.1 billion) |
3.3 |
88.85 |
|
Including economic regions |
1.3 billion manat ($764 million) |
11.15 |
|
|
Nakhchivan |
56.8 million manat ($33.4 million) |
2.58 |
0.48 |
|
Absheron-Khizi |
370 million manat ($217 million) |
5.77 |
3.11 |
|
Mountainous Shirvan |
34 million manat ($20 million) |
3.77 |
0.29 |
|
Ganja-Dashkasan |
184 million manat ($108.8 million) |
5.26 |
1.55 |
|
Karabakh |
83.7 million manat ($49.2 million) |
3.58 |
0.7 |
|
Gazakh-Tovuz |
90.7 million manat ($53.3 million) |
4.76 |
0.76 |
|
Guba-Khachmaz |
109.4 million manat ($64.3 million) |
4.71 |
0.92 |
|
Lankaran-Astara |
105.2 million manat ($33.4 million) |
4.87 |
0.88 |
|
Central Aran |
98.2 million manat ($61.8 million) |
4.13 |
0.83 |
|
Mil-Mughan |
40 million manat ($23.5 million) |
2.7 |
0.34 |
|
Shaki-Zagatala |
96.2 million manat ($56.5 million) |
3.48 |
0.81 |
|
East-Zangezur |
- |
- |
- |
|
Shirvan-Salyan |
57.5 million manat ($33.8 million) |
3.18 |
0.48 |