BAKU, Azerbaijan, June 24. The total volume of bank deposits of the Azerbaijani population as of May 31, 2023, increased by 1.8 billion manat or $1 billion (17.06 percent) compared to the same period in 2022 – from 10.5 billion ($6.1 billion) to 12.4 billion manat ($7.2 billion), Trend reports.
According to the Central Bank of Azerbaijan (CBA) of Azerbaijan, Baku accounted for 88.94 percent (11 billion manat or $6.4 billion) of all bank deposits in Azerbaijan, and the regions accounted for 11.06 percent (1.3 billion manat or $764.7 million).
At the same time, as many as 61.99 percent (7.6 billion manat or $4.4 billion) of the population's bank deposits were in national currency, and 38.01 percent (4.7 billion manat or $2.7 billion) were in foreign currency.
Moreover, the average annual deposit rate as of May 31, 2023, in Azerbaijan was 3.45 percent, in Baku – 3.29 percent.
Distribution of bank deposits by Azerbaijan’s regions (as of May 31, 2023)
|
Deposits (manat) |
Average interest rate (%) |
Share of total deposits (%) |
|
|
Azerbaijan |
12.4 million ($7.2 million) |
3.45 |
100 |
|
Baku |
11 million ($6.4 million) |
3.29 |
88.94 |
|
Including economic regions: |
1.3 million ($764,705) |
11.06 |
|
|
Nakhchivan |
70,477 ($41,457) |
2.30 |
0.57 |
|
Absheron-Khizi |
397,800 ($234,000) |
5.62 |
3.21 |
|
Mountainous Shirvan |
33,805 ($19,885) |
4.04 |
0.27 |
|
Ganja-Dashkasan |
193,927 ($114,074) |
5.25 |
1.56 |
|
Karabakh |
72,819 ($42,834) |
4.29 |
0.59 |
|
Gazakh-Tovuz |
93,153 ($54,795) |
5.04 |
0.75 |
|
Guba-Khachmaz |
109,293 ($64,290) |
4.92 |
0.88 |
|
Lankaran-Astara |
107,304 ($63,120) |
4.83 |
0.87 |
|
Central Aran |
98,910 ($58,182) |
4.33 |
0.80 |
|
Mil-Mughan |
40,387 ($23,757) |
2.74 |
0.33 |
|
Shaki-Zagatala |
98,846 ($58,144) |
3.71 |
0.80 |
|
East-Zangazur |
- |
- |
- |
|
Shirvan-Salyan |
54,566 ($32,097) |
3.47 |
0.44 |