BAKU, Azerbaijan, November 24. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) grew by 9.25 percent (up to 12.56 billion manat, or $7.4 billion) from January through October 2023, Trend reports.
The data of the Central Bank of Azerbaijan (CBA) shows that the volume of deposits by the population in national currency increased by 15.34 percent to 8.141 billion manat ($4.8 billion), accounting for 68.8 percent of all deposits.
Bank deposits of the population in foreign currency decreased by 0.43 percent (to 4.422 billion manat, or $2.6 billion), amounting to 35.1 percent of all deposits of the population (the share of deposits in foreign currency amounted to 39.2 percent at the end of 2022).
The volume of residents' bank deposits amounted to 11.247 billion manat ($6.7 billion), and nonresidents' deposits amounted to 1.317 billion manat ($774.7 million) as of November 1, 2023. Residents' deposits increased by 7.44 percent and non-residents' deposits by 27.68 percent during the reporting period.
In general, the volume of deposits in banks in Azerbaijan is estimated at 34.991 billion manat ($20.6 billion) as of November 1, 2023, which is 0.53 percent more than at the end of 2022.
Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 11.7 billion manat ($6.8 billion) by the end of 2022.