Azerbaijani banks have lost up to 20% of foreign investments

By August 1, bank deposits of population of 6 billion 940 million manat (+8.5% YTD).

According to the Central Bank (CBA), the largest growth in deposits in the national currency - for the seven months it increased by 13.25% to reach 4 billion 403,600,000 manat or 63.5% of total deposits. Deposits in foreign currency rose slightly - by 1.2% and amounted to 2 billion 536,500,000 manat.

In the accounts of residents (who resides six months or more in the country) by August 1, there was 6 billion 310,900,000 manat and at nonresidents – 629 100 000 manat. While the accounts of citizens grew in January-July by 12.3%, foreigners withdraw money - minus 18.88% since the beginning of the year. As explained financiers to Turan, this is due to inspections in several banks and the collapse of Royal Bank, then part of the account owners ran out of money.

As of August 1, the total volume of deposits in domestic banks was 14 billion 558,100,000 manat (+ 16.7% since the beginning of the year). --17D--

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