Manat gains strength as a deposit

11:12 - 28.02.2024

February 28, Fineko/ In Azerbaijan, the manat enhances investment attractiveness as a deposit.

Thus, deposits of individuals in banks increased sharply and exceeded 12.83 bn manats.

ABC.AZ reports with reference to CBA statistical bulletin from February 1, 2024.

According to the bulletin, individuals’ deposits for January grew by 1.98% against 9.8% over the past year.

The main cause of growth is term deposits. Term deposit is a type of deposit that offers the client an interest income on a contractual basis in banks. The volume of these deposits increased by 231.16 million manats, or 3.36%, up to 7.113 bn manats in January alone.

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