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Private Foreign Investors Withdraw Money from Local Banks
As of January 1 this year, the population holds in the country's banks 7 billion 188,400,000 manat (+ 12.4% yoy).
According to the report on the website of the Central Bank of Azerbaijan, the largest share of money is in the national currency - 4 billion 422,400,000 manat or 61.5% of total deposits (+ 13.7% yoy). The rest is in foreign currency deposits (+ 10.3%).
According to the CBA, by the beginning of this year, local bank deposits were 6 billion 472,500,000 manat and the share of non-residents was 715,900,000 manat. The traditional trend continues - local investors are building up their savings accounts (+ 15.2%) and foreigners are pulling their money (minus 7.7%).
The total volume of deposits in local banks by 1 January was 15 billion 453,400,000 manat (+ 23.9% yoy). --17D-
Economics
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