Azerbaijan banks' deposit volume exceeds 40 billion manats

The deposit portfolio of 22 banks operating in Azerbaijan has reached an impressive 40,270.8 million manats as of January 1 of this year.

Report informs, citing the Central Bank of Azerbaijan (CBA), that this figure represents a 7% increase compared to the previous month and an 8.9% growth compared to the beginning of 2024.

Non-financial organizations account for 56% of the total deposits, amounting to 22,532.4 million manats, which is a 4.1% increase compared to the previous year. Over the past year, household deposits have grown by 13.2%, reaching 14,661.9 million manats, while deposits from financial organizations have surged by 30%, amounting to 3,076.5 million manats.

During the reporting period, short-term deposits accounted for 24,073.4 million manats (a 1.9% increase year-on-year), while long-term deposits amounted to 16,197.4 million manats (a 21.4% increase).