Non-residents Withdrew 8.1% of Bank Deposits from Turnover

On February 1, the population of Azerbaijan held 7 billion 121,300,000 AZN on bank accounts (minus 0.9% YTD).

According to the Central Bank of AR (CBA), this is due to the conversion of deposits in favor of foreign currency - only in January, the total volume of this segment in manat fell to 4 billion 276,300,000 manat (minus 3.3%) or 60% of total deposits. In contrast, household deposits in foreign currency increased by 2.9% - up to 2 billion 845 million manat. i.e., 0.4% of deposits were withdrawn from the bank circulation.

By February 1, the volume of bank deposits of residents was 6 billion 463,600,000 manat (minus 0.2% YTD), non-residents - 657,700,000 manat (minus 8.1%). The aggregate amount of deposits in banks by that date amounted to 15 billion 134,700,000 manat (minus 2.1%). --17D-

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