Bank deposits keep increasing in Azerbaijani regions

As of late April 2019, bank deposits of the population of Azerbaijani regions made up 718.1 million manats, which is 16.14 percent more compared to the same period of 2018, Trend reports referring to the Central Bank of Azerbaijan (CBA).

The share of Azerbaijani regions in the total volume of all bank deposits in the country was 8.24 percent. In the reporting period, around 80.2 percent (575.63 million manats) of all deposits in the country’s regions accounted for savings in the national currency. For comparison, the share of manat deposits in Baku made up 38.1 percent.

In late April 2019, the volume of deposits in Baku amounted to 7.9 billion manats, including 3.05 billion manats in the national currency.

The average annual interest rate on loans for April 2019 was 3.7 percent in the country’s regions and 3.5 percent in Baku.

Bank deposits in Azerbaijani regions (as of late April 2019):

Economic regions Deposits (1,000 manats) Average interest rate (%)
Absheron 209,099 6.2
Aran 131,293 4.3
Mountainous Shirvan 20,733 4.3
Ganja-Gazakh 147,775 5.6
Guba-Khachmaz 57,671 5.5
Lankaran 56,072 6.0
Shaki-Zagatala 43,536 4.1
Upper-Karabakh 13,036 3.1
Kalbajar-Lachin 0.0 0,0
Nakhchivan 38,881 1.9

(1 USD = 1.7 AZN on June 6)