deposits

After several years during which many Azerbaijanis preferred to keep their money in cash, real estate, or consumer spending, bank deposits are once again returning to the center of household financial...

As of the end of July 2024, Azerbaijani banks had a deposit portfolio of 34,381.3 million manats. This is stated in the insurance review published by the Central Bank of Azerbaijan.

In May 2024, the situation with accepting deposits in 5 banks in Azerbaijan changed. Banks have revised the interest rates on classic deposits placed in Azerbaijani manats and US dollars.

In March 2024, the situation with accepting deposits in 2 banks of Azerbaijan changed. Banks have revised the percentage of classic deposits placed in manats and US dollars.

By the end of 2023, 88% of bank deposits in Azerbaijan are protected by the Deposit Insurance Fund.

In a noteworthy trend, Azerbaijani individuals have begun favoring dollar deposits over mandatory ones, marking a significant shift in the country's banking landscape. According to statistical data re...

In January 2024, the situation with accepting deposits changed in 6 banks of Azerbaijan.  Banks have revised interest rates on deposits placed in both Azerbaijani manats and US dollars.   Thus, the...