BAKU, Azerbaijan, August 4. The Azerbaijani population's total bank deposits increased by 2.15 billion manat or $1.26 billion (20.32 percent) as of June 30, 2023 compared to the same period in 2022 – from 10.59 billion ($6.2 billion) to 12.7 billion manat ($7.4 billion), Trend reports.
According to the Central Bank of Azerbaijan (CBA), Baku accounted for 88.63 percent (11.29 billion manat or $6.6 billion) of all bank deposits in Azerbaijan, and the regions accounted for 11.37 percent (1.4 billion manat or $820 million).
At the same time, as many as 63.44 percent (8.08 billion manat or $4.75 billion) of the population's bank deposits were in national currency, and 36.56 percent (4.6 billion manat or $2.7 billion) were in foreign currency.
Moreover, the average annual deposit rate as of June 30, 2023, in Azerbaijan was 3.45 percent, in Baku – 3.29 percent.
Distribution of bank deposits by Azerbaijan’s regions (as of June 30, 2023)
|
Deposits |
Average interest rate (%) |
Share of total deposits (%) |
|
|
Azerbaijan |
12.7 billion manat ($7.4 billion) |
3.43 |
100.00 |
|
Baku |
11.29 billion manat ($6.6 billion) |
3.29 |
88.63 |
|
Including economic regions: |
1.4 billion manat or $820 million |
11.37 |
|
|
Nakhchivan |
70,550 manat ($41,500) |
2.28 |
0.55 |
|
Absheron-Khizi |
411,468 manat ($242,040) |
5.45 |
3.23 |
|
Mountainous Shirvan |
38,922 manat ($22,900) |
3.5 |
0.31 |
|
Ganja-Dashkasan |
198,727 manat ($116,900) |
5.15 |
1.56 |
|
Karabakh |
87,211 manat ($51,300) |
3.55 |
0.68 |
|
Gazakh-Tovuz |
100,077 manat ($58,870) |
4.68 |
0.78 |
|
Guba-Khachmaz |
117,700 manat ($69,240) |
4.58 |
0.92 |
|
Lankaran-Astara |
110,314 manat ($64,890) |
4.74 |
0.87 |
|
Central Aran |
105,276 manat ($61,930) |
4.07 |
0.83 |
|
Mil-Mughan |
44,190 manat ($25,990) |
2.54 |
0.35 |
|
Shaki-Zagatala |
103,810 manat ($61,060) |
3.51 |
0.81 |
|
East-Zangazur |
- |
- |
- |
|
Shirvan-Salyan |
60,778 manat ($35,750) |
3.14 |
0.48 |