ASHGABAT, Turkmenistan, November 6. The collective sum of savings held by the citizens in Turkmenistan's banks reached 3.01 billion Turkmen manat as of September 1 of this year, equivalent to $860 million, Trend reports.
According to the Central Bank of Turkmenistan, these figures are 3.4 percent more than on the same date last year (2.91 billion Turkmen manats, or $830 million).
Of the total amount, deposits of the population in state commercial banks amounted to 1.88 billion Turkmen manat ($540 million), which is 4.4 percent more than at the beginning of September 2022 (1.8 billion Turkmen manat, or $520 million).
At the same time, the share of deposits of the population in joint-stock commercial banks amounted to 1.13 billion Turkmen manat ($320 million), which is 2.7 percent more than compared to the same date in 2022 (1.1 billion Turkmen manat or $310 million).
Furthermore, deposits of the Turkmenisran's population in branches of foreign banks amounted to 630 million Turkmen manat ($180.3 million), which is 70.2 percent more than at the beginning of September last year (370 million Turkmen manat or $105.9 million).
Meanwhile, Turkmenistan is actively working on the development of its financial sector, focusing on the modernization of banking institutions, expanding access to financial services and strengthening financial stability.