Azerbaijan Banks' Deposit Portfolio Grows to AZN 44.5 Billion
According to the Central Bank of Azerbaijan, the deposit portfolio of Azerbaijani banks stood at AZN 44.5 billion as of August 1, up 6.5% year-on-year.
Zeyni Jafarov✓ Verified by editors78 views1 min read
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The deposit portfolio of Azerbaijani banks stood at AZN 44 billion 501.1 million as of August 1 of this year.
As reported by FinFly.News citing the Central Bank of Azerbaijan (CBA), this is 0.8% more compared to July 1, 6.55% more compared to the beginning of the year, and 6.5% more compared to August 1 of last year.
Non-financial organizations accounted for 50% of the deposit portfolio, or AZN 22 billion 244.3 million, which is 4.3% less in annual terms.
Over the year, household deposits grew by 15.8%, reaching AZN 17 billion 896.7 million, while deposits of financial organizations increased by 41.8%, amounting to AZN 4 billion 360.2 million.
In the reporting period, of the total deposits, AZN 23 billion 823 million (6.2% more compared to a year earlier) were short-term, and AZN 20 billion 678.1 million (+6.85%) were long-term.
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BeforeAugust 1, 2023
Deposit portfolio was 6.5% lower than current level
Now
The deposit portfolio of Azerbaijani banks amounted to AZN 44.5 billion as of August 1, 2024.
Next
Further deposit dynamics are expected depending on the economic situation and CBA policy.
