Azerbaijani banks see over 24% increase in deposits

As of March 1, 2022, deposits in Azerbaijani banks amounted to slightly over 29.17 billion manats, 0.5% more than a month ago, Report informs, citing the Central Bank of Azerbaijan.

According to the bank, this figure also shows an increase of 0.5% when compared to January 1, 2022, and significant growth of 24.2% when compared to the data for March 1, 2021.

Non-financial organizations accounted for 58.6% or 17.094 billion manats of this amount, which indicates an annual increase of 28%.

During the year, household deposits increased by 19.8% to 10.036 billion manats, and deposits of financial institutions increased by 16.3% and reached 2.039 billion manats.

There are 26 banks in Azerbaijan.