Bank deposits of Azerbaijani population rise by nearly 14%

As of December 1, 2024, the deposit portfolio of Azerbaijani banks amounted to just over 37.627 billion manats ($22.133 billion), Report informs with reference to the Central Bank of Azerbaijan (CBA).

According to CBA, this figure is 1.6% more month-on-month, 1.8% more compared to the beginning of the year, and 7.1% more year-on-year.

About 54.6% of the deposit portfolio, or more than 20.556 billion manats ($12.092 billion), fell to non-financial organizations, which is 0.6% less year-on-year.

During the year, household deposits increased by 13.7% to 14.235 billion manats (almost $8.374 billion), while deposits of financial institutions grew by 47.3% to just under 2.835 billion manats ($1.667 billion).

In the specified period, 21.761 billion manats ($12.8 billion; decreased by 3.9% during the year) of total deposits were short-term, while almost 15.866 billion manats (approximately $9.332 billion; increased by 27.1%) were long-term.

There are 22 banks operating in the country.