Deposits in Azerbaijani banks up by 2%

As of November 1, 2023, deposits in Azerbaijani banks amounted to 34,991.3 million manats ($20.58 billion), up 2.2% from a month earlier, 0.5% from the previous year, and down 3.5% from early 2023, Report informs, citing the Central Bank of Azerbaijan.

Of this, 20.498 billion manats ($12.06 billion) fell to the share of non-financial organizations, 1.8% more than a year earlier.

During the reporting period, household deposits increased by 9.3% to 12,564.1 million manats ($7.39 billion), and deposits of financial institutions slipped by 20.9% to 1,929.3 million manats ($1.13 billion).

There are 23 banks in the country.