Deposits in Azerbaijani banks up by about 5%

As of September 1, 2023, deposits in Azerbaijani banks amounted to 34,325.1 million manats ($20.19 billion), 0.9% more than a month earlier, 5.3% less than on January 1, 2023, and 4.5% more than a year ago, Report informs, citing the Central Bank of Azerbaijan.

Of this, 56.5%, or 19.405 billion manats ($11.41 billion), fell to the share of non-financial organizations, 1.8% more than a year earlier.

During the reporting period, household deposits increased by 15.9% to 12,580.1 million manats ($7.40 billion), and deposits of financial institutions grew by 6% to 2,339.7 million manats ($1.38 billion).

There are 24 banks in the country.