Volume of individuals' dollar deposits in Azerbaijani banks continues to lower

By Trend

The volume of bank deposits of individuals in Azerbaijan in foreign currency has decreased as of early July 2021, Trend reports citing a statistical report from the country's Central Bank (CBA).

According to the CBA, in the reporting period, this volume made up over 3.8 billion manat ($2.2 billion, down 7.4 percent on annual basis), which is 45.7 percent of the total deposits.

Meanwhile, the volume of deposits of the population, including individuals, in national currency, reached 4.5 billion manat ($2.6 billion), growing by 29.2 percent for the year.

The share of deposits of individuals in the national currency made up 54.3 percent of the total volume of deposits of the population.

In general, the total volume of bank deposits of Azerbaijan’s population, including individuals, grew by 9.5 percent as of early July this year compared to the same period of 2020, amounting to over 8.4 billion manat ($4.9 billion).

In the reporting period, the deposits of residents and non-residents reached 8.14 billion manat ($4.79 billion) and 295.4 million manat ($173.7 million), respectively. In annual terms, investments of residents have risen by 788.6 million manat ($463.8 million or 10.7 percent), and those ones of non-residents dropped by 59.6 million manat ($35 million, or 22 percent).

As of early July 2021, the total volume of deposits in Azerbaijani banks exceeded 24 billion manat ($14.1 billion), which is year-on-year 7 percent.

(1 USD = 1.7 AZN on Aug.6)

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