BAKU, Azerbaijan, March 31. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) on March 1, 2023 increased by 1.35 percent to 11.9 billion manat ($6.9 billion) compared to the figure at the end of December 2022, Trend reports via the Central Bank of Azerbaijan (CBA).
According to the CBA, the bank deposits of the population in foreign currency decreased by 0.01 percent to 4.6 billion manat ($2.7 billion), in the reporting period, accounting for 38.7 percent of all deposits of the population.
Moreover, the volume of deposits of the population in the national currency increased by 2.2 percent to 7.2 billion manat ($4.2 billion), accounting for 61.3 percent of all deposits.
As of March 1, 2023, the volume of bank deposits of residents is 10.7 billion manat ($6.2 billion), while the deposit volume of non-residents is 1.1 billion manat ($647 million). During the reporting period, deposits of residents increased by 1.64 percent, while deposits of non-residents decreased by 1.21 percent.
Furthermore, as of February 28, 2023, the volume of bank deposits amounted to 35.1 billion manat ($20.6 billion), which is 3 percent less than at the end of December 2022.
Overall, by the end of 2021, the bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 9.2 billion manat ($5.4 billion).