...

Azerbaijani banks' assets increase by more than a quarter

Business Materials 11 March 2014 17:59 (UTC +04:00)

Baku, Azerbaijan, March 11

By Emin Aliyev - Trend:

As of February 1, 2014, the assets of the Azerbaijani banking sector amounted to 20.546.35 billion manat compared to 16.419.05 billion manat in January 2013.

The bank assets increased by 25.14 percent per year, according to the Central Bank of Azerbaijan's report.

The basis of the assets of the banking sector (69.2 percent) accounted for loans delivered to the clients to the sum of 14.210.5 billion manat (31.5 percent growth per year), investments (1.704.6 billion manat with 6.5 percent growth) and funds on correspondent accounts (1.072.4 billion manat with 4.5 percent growth).

Loans and deposits to the financial sector amounted to 890.7 million manat with a growth of 25.43 percent.

The lion share in the structure of liabilities accounts for deposits standing at 9.158.9 billion manat (44.58 percent) as of February 1, 2014, showing an increase of 20.7 percent compared to January 2013. Loans and deposits from the financial sector amounted to 6.833.1 billion manat, increasing by 30.8 percent.

There are 43 banks in Azerbaijan.

The official exchange rate is 0.7844 AZN/USD on March 11.

Translated by NH

Edited by CN

Tags:
Latest

Latest