Deposits in Azerbaijani banks down

As of October 1, 2023, deposits in Azerbaijani banks amounted to 34,230.5 million manats ($20.15 billion), 0.3% less than a month earlier, 5.6% less than on January 1, 2023, and 0.8% more than a year ago, Report informs, citing the Central Bank of Azerbaijan.

Of this, 19.463 billion manats ($11.45 billion) fell to the share of non-financial organizations, 4.3% more than a year earlier.

During the reporting period, household deposits increased by 13.2% to 12,705.5 million manats ($7.47 billion), and deposits of financial institutions slipped by 14.1% to 2,061.7 million manats ($1.21 billion).

There are 23 banks in the country.