Azerbaijan sees significant increase in volume of bank deposits in national currency

By Trend

The total volume of deposits in Azerbaijan reached 24.9 billion manat ($14.6 billion) in late February 2020, which is 11.3 percent more compared to late February 2019, Trend reports referring to the Azerbaijani Central Bank (CBA).

The volume of deposits of non-financial organizations increased by 14.9 percent compared to February 2019, amounting to 14.5 billion manat ($8.5 billion).

The total volume of deposits of individuals increased by 5.8 percent and reached 8.7 billion manat ($5.1 billion).

In late February 2020, deposits in foreign currency amounted to 15.1 billion manat ($8.9 billion), which is by 3.8 percent more than in late February 2019.

Big growth is observed in deposits in the national currency, which increased by 25.3 percent compared to February 2019, having reached 9.8 billion manat ($5.8 billion).

(1 USD = 1.7 AZN on April 3)