Household deposits in Azerbaijani banks up by 18.2% year-on-year

As of June 1, the total deposit portfolio of Azerbaijani banks amounted to 42.2 billion manats.

According to Report, citing the Central Bank of Azerbaijan (CBA), this represents an increase of 2.2% compared to the previous month and 1.2% since the beginning of the year, but a 2.3% decline compared to June 1 of last year.

Deposits held by non-financial organizations accounted for just over 20 billion manats, or 47.4% of the total deposit portfolio. Their deposits decreased by 19.3% year-on-year.

Meanwhile, household deposits increased by 18.2%, reaching just over 17.8 billion manats, while deposits of financial organizations rose by 33.1% to nearly 4.4 billion manats.

Of the total deposit volume, nearly 22.69 billion manats were short-term deposits, down 7.5% from a year earlier. Long-term deposits increased by 4.6% year-on-year to just over 19.5 billion manats.