Azerbaijani banks' deposit portfolio reaches 44.2B manat

The deposit portfolio of Azerbaijani banks totaled 44.155 billion manat ($26 billion) as of July 1 this year, Report informs, citing the Central Bank of Azerbaijan, CBA.

This is 4.6% more than on June 1, 5.8% higher than at the beginning of the year, and 2.8% more than on July 1 last year.

Non-financial organizations accounted for 48.9% of the deposit portfolio, or 21.587 billion manat ($12.7 billion). This is 11.2% less year-on-year.

Over the past year, household deposits increased by 15.5% to 17.824 billion manat ($10.5 billion), while deposits by financial institutions rose by 48.1% to 4.745 billion manat ($2.8 billion).

During the reporting period, short-term deposits totaled 23.819 billion manat ($14 billion), up 1.3% year-on-year, while long-term deposits stood at 20.336 billion manat ($12 billion), up 4.6%.