BAKU, Azerbaijan, August 23. The bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) increased by 8.2 percent to 12.7 billion manat ($7.5 billion) from January through July 2023, Trend reports.
According to the Central Bank of Azerbaijan, the volume of deposits by the population in the national currency from January through July 2023 increased by 13.1 percent to 8.1 billion manat ($4.8 billion), accounting for 63.55 percent of all deposits.
Bank deposits of the population in foreign currency increased by 0.58 percent to 4.6 billion manat ($2.7 billion), accounting for 36.44 percent of all deposits (by the end of 2022, the share of deposits in foreign currency was 39.2 percent).
In addition, the volume of bank deposits of residents is 11.4 billion manat ($6.7 billion) and that of non-residents is 1.3 billion manat ($764.5 million) as of August 1, 2023. During the reporting period, deposits of residents increased by 7.5 percent and those of non-residents by 14.44 percent.
In general, the volume of deposits in Azerbaijani banks amounted to 34 billion manat ($20 billion) as of August 1, 2023, which is 6.14 percent less than at the end of 2022.
The bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 11.7 billion manat ($6.9 billion) by the end of 2022.