Azerbaijani banks see decline in deposits

As of August 1, 2022, deposits in Azerbaijani banks amounted to 31.957 billion manats ($18.8 billion), 1.4% less than a month ago, Report informs, citing the Central Bank of Azerbaijan.

According to the bank, this figure also shows an increase of 10.1% compared to January 1, 2022, and 28.2% to the data for August 1, 2021.

Non-financial organizations accounted for 59.3% or 18.949 billion manats ($11.15) of this amount, which indicates an annual increase of 30.4%.

During the year, household deposits increased by 25.7% to 10.817 billion manats ($6.36 billion), and deposits of financial institutions grew by 22.2% to 2.191 billion manats ($1.3 billion).

There are 26 banks in Azerbaijan.