BAKU, Azerbaijan, April 30. Bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) from January through March 2024 increased by 9.91 percent to 13.15 billion manat or $7.73 billion (11.96 billion manat or $7.03 billion in the same period last year), Trend reports.
According to the Central Bank of Azerbaijan (CBA), the volume of household deposits in national currency increased by 15.3 percent to 8.5 billion manat ($4.9 billion), accounting for 64.86 percent of all deposits.
Bank deposits of the population in foreign currency increased by 1.19 percent (up to 4.6 billion manat or $2.7 billion), amounting to 35.14 percent of all deposits of the population (in the same period last year, the share of deposits in foreign currency was 38.16 percent).
The volume of bank deposits of residents amounted to 11.9 billion manat or $7 billion and that of non-residents amounted to 1.26 billion manat ($739 million) as of April 1, 2024. During the reporting period, residents' deposits increased by 10.15 percent and non-residents by 7.76 percent.
Overall, the volume of deposits and deposits in banks in Azerbaijan is estimated at 37.1 billion manat ($21.8 billion) as of April 1, 2024, which is 7.45 percent more than in the same period last year.
To note, at the end of 2023, bank deposits of the population in Azerbaijan (including funds of individuals engaged in individual entrepreneurial activity) amounted to 12.95 billion manat ($7.6 billion).
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