Baku: The banking sector in Azerbaijan has reported a significant increase in its deposit portfolio, which now exceeds 36 billion manats, accounting for the majority of the sector’s liabilities. As of September, the total liabilities of the banking sector have reached an impressive 44.55 billion manats, marking a 3% rise since the start of the year.
According to Azeri-Press News Agency, this growth equates to an increase of 1.29 billion manats over the previous period. The Central Bank of Azerbaijan highlighted that the deposit portfolio remains a dominant component of the banking sector’s liabilities, representing 80.9% of the total liabilities, or approximately 36 billion and 58.9 million manats.
The composition of the deposit portfolio shows a significant portion originating from legal entities, which contribute 61.6%, or 22.2098 billion manats. Meanwhile, deposits from physical persons, excluding individual entrepreneurs, make up 38.4% of the portfolio, amounting to 13.8491 billion manats.