There are 93.6% of all bank depositson account of the residents
The gap of Baku residents in the banking portfolio deposits is growing. According to the report of the Central Bank of Azerbaijan, on January 1, this figure was at the level of 8 billion 867 million228.700 manat (+ 33.4% YoY).This means that the share capital of investors reached 93.6% of total bank deposits, with 86.4% of their foreign currency deposits accounted for the equivalent of 7 billion657 million 392.400 manat at an average annual rate of 7.4 % (in foreign currency - 7.6% in manats - 6.5% per annum.)
In the regions, the population invested in banks around 606 million. 707.1thous. Manat (+ 12.2% YoY). The most activeare residents of the Absheron economic region (equivalent to 198 million 516.400 manat at the rate of an average of 8.2% per annum).The Ganja-Gazakh economic region hasin the banks the equivalent of 145 million 762.800 manat at the rate of 7.8% ; in Aran economic region - 85 million 418.400manat at a rate of 6.3% per annum. In other areas theactivity of investors is lower. --17D-
Economics
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The International Association of Drilling Contractors (IADC) opened its annual "IADC Drilling Caspian" conference in Baku on Tuesday, bringing together industry leaders to discuss advancements in oil and gas drilling, as well as the growing role of geothermal energy.
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The volume of cargo transported along the Trans-Caspian International Transport Route (TITR) surged by 62% in 2024, reaching 4.5 million tonnes, Kazakhstan’s Prime Minister Olzhas Bektenov said during talks with his Georgian counterpart Irakli Kobakhidze on Wednesday, according to the Kazakh government’s press service.
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Azerbaijan’s Small and Medium Business Development Agency (KOBİA) held a Supervisory Board meeting on Monday, chaired by Economy Minister Mikayil Jabbarov, to review the agency’s 2024 performance and set priorities for 2025.
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In January 2025, the average price of the consumer basket (CB) compiled by the Turan agency in Baku, which includes 30 types of essential domestically produced food products, increased by 0.3%.
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