Azerbaijan’s total bank deposits reached 41.59 billion manats as of November 1, marking a 12.3% increase compared to the same date last year, according to new data from the Central Bank of Azerbaijan (CBA).
While the overall deposit portfolio slightly decreased by 0.3% month-on-month, annual growth remains strong across all major categories.
Non-Financial Sector Leads Growth
Non-financial organizations accounted for 22.14 billion manats, or 53.2% of all deposits – an annual increase of 12.2%.
Household Deposits Up 11.5%
Deposits held by households rose 11.5% year-on-year, reaching 15.91 billion manats.
Financial Organizations See Largest Jump
Deposits of financial institutions grew 17.1%, totaling 3.54 billion manats.
Long-Term Deposits Growing Faster
Out of the total portfolio:
21.59 billion manats were short-term deposits (+2% year-on-year)
20.00 billion manats were long-term deposits, showing a robust 26.1% increase
The data reflects continued strengthening of Azerbaijan’s deposit base amid rising confidence in the banking sector.
