Household deposits in Azerbaijani banks rise nearly 16% year-on-year

The deposit portfolio of Azerbaijani banks stood at 44,501.1 million manats as of August 1 this year.

According to the Central Bank of Azerbaijan (CBA), cited by Report, this was 0.8% higher than on July 1, 6.55% higher than at the beginning of the year, and 6.5% higher than on August 1 last year.

Non-financial organizations accounted for 50% of the deposit portfolio, or 22,244.3 million manats, down 4.3% year-on-year.

Over the year, household deposits increased by 15.8% to 17,896.7 million manats, while deposits held by financial organizations rose by 41.8% to 4,360.2 million manats.

During the reporting period, 23,823 million manats of total deposits, up 6.2% year-on-year, were short-term, while 20,678.1 million manats, up 6.85%, were long-term.