Deposits in Azerbaijani banks up by 14%

As of May 1, 2023, deposits in Azerbaijani banks amounted to 35,202.4 million manats ($20.71 billion), 1.9% more than a month earlier, 2.9% less than on January 1, 2023, and 14% more than a year ago, Report informs, citing the Central Bank of Azerbaijan.

Of this, 57% or 20.081 billion manats ($12.24 billion) fell to the share of non-financial organizations, 11.2% more than a year earlier.

During the reporting period, household deposits increased by 16.1% to 12,211.6 million manats ($7.18 billion), and deposits of financial institutions grew by 26% to 2,909.8 million manats ($1.71 billion).

There are 24 banks in the country.