BAKU, Azerbaijan, April 19. The total volume of bank deposits of the Azerbaijani population as of March 31, 2023 increased by 1.5 billion manat ($882.3 million), or 15.38 percent compared to the same period in 2022 growing from 10.3 billion manat ($6 billion) to 11.9 billion manat ($6.9 billion), Trend reports with reference to the Central Bank of Azerbaijan.
According to the bank, Azerbaijan's capital Baku accounted for 10.6 billion manat ($6.2 billion), or 89.06 percent of all bank deposits in the country, while the regions accounted for 1.3 billion manat ($764.7 million), which is 10.94 percent.
At the same time, about 7.3 billion manat ($4.2 billion), or 61.83 percent of the population's bank deposits were in national currency, and 38.17 percent, which is 4.5 billion manat ($2.6 billion), were in foreign currency.
Moreover, the average annual deposit rate as of March 31 of this year in the country was 3.47 percent, while in Baku – 3.31 percent.
Distribution of bank deposits by Azerbaijan’s regions (as of Mar. 31, 2023)
| Deposits | Average interest rate (percent) | Share of total deposits (percent) | |
| Azerbaijan | 11.9 billion manat ($6.9 billion) | 3.47 | 100.00 |
| Baku | 10.6 billion manat ($6.2 billion) | 3.31 | 89.06 |
| Including economic regions: | 1.3 billion manat ($764.7 million) | 10.94 | |
| Nakhchivan | 57.4 million manat ($33.7 million) | 2.60 | 0.48 |
| Absheron-Khizi | 377.2 million manat ($221.8 million) | 5.71 | 3.15 |
| Mountainous Shirvan | 33.4 million manat ($19.6 million) | 3.89 | 0.28 |
| Ganja-Dashkasan | 184.6 million manat ($108.5 million) | 5.37 | 1.54 |
| Karabakh | 71.1 million manat ($41.8 million) | 4.24 | 0.59 |
| Gazakh-Tovuz | 88 million manat ($51.7 million) | 5.05 | 0.74 |
| Guba-Khachmaz | 109.9 million manat ($64.6 million) | 4.74 | 0.92 |
| Lankaran-Astara | 103.1 million manat ($60.6 million) | 4.96 | 0.86 |
| Central Aran | 96.1 million manat ($56.5 million) | 4.26 | 0.80 |
| Mil-Mughan | 39.4 million manat ($23.1 million) | 2.77 | 0.33 |
| Shaki-Zagatala | 94.7 million manat ($55.7 million) | 3.69 | 0.79 |
| East-Zangezur | - | - | - |
| Shirvan-Salyan | 52.9 million manat ($31.1 million) | 3.48 | 0.44 |