Taleh Kazimov: Number of depositors and bank deposits growing in Azerbaijan

The number of unique depositors in Azerbaijan has approached 227,000, more than doubling over the past two and a half years, Central Bank of Azerbaijan governor Taleh Kazimov said.

Report quotes him as saying positive trends are evident both in the number of unique depositors and in deposit portfolios.

"Over the past two and a half years, manat-denominated deposits held by individuals have increased by 89%. In effect, this represents nearly a doubling. Compared with 2021, the figure has doubled. The number of depositors has also more than doubled. At the end of September 2023, there were 106,000 depositors, whereas the figure now stands at around 227,000. We no longer analyze this indicator separately. This is not unexpected for us; we simply monitor the pace of growth. Growth this year appears to be in the range of 20–22%. The increase is particularly pronounced in deposits of up to 30,000 manats, rather than those of up to 100,000 manats," Kazimov said.

As previously reported, as of September 30, 2026, individual bank deposits in Azerbaijan totalled 18.84 billion manats, including 13.54 billion manats in manat-denominated deposits.