Bank Deposits of Baku Citizens Constitute 92.5% of All Private Investment

Residents of the capital are the wealthiest in Azerbaijan - their private non-enterprise deposits in banks as of 1 January totaled 6 billion 647 million 773.8 thousand manat, which is 92.48% of all bank deposits (+ 11.8% per year).

According to the report of the Central Bank of Azerbaijan, deposits from the public were accepted at the average rate of 8%, regardless of region of residence.

Let us compare residents of the capital with the provincials. In Baku 60.4% of all deposits are kept in manats - 4 billion 15 million 189.7 thousand, while in foreign currency they keep 2 billion 632 million 584.1 thousand manat. In the capital, deposits from the public in foreign currency are accepted by banks on average at a rate of 8.6% per annum and in the national currency they are accepted at 7.6% per annum.

Residents of the regions kept 540 million 595.9 thousand manat (+ 13.7%) as of January 1. It is minuscule, and this trend is related to the fact that the majority of wealthy suburbanites have a business in Baku and abroad, preferring to keep their money there.

Most of all (32% of all regional inputs) money is kept in banks by the population of the Absheron economic region - 173 million 95.9 thousand manat at a rate averaged 8.5% per annum. For comparison - the residents of the Ganja-Gazakh economic region keep in banks 64 million 181.5 thousand manat at an average rate of 6.1% per annum, and in the Aran economic region the index is 164 million 159 thousand manat (rate - 7.6% per annum). --17D-