Baku, Azerbaijan, Sept. 14
By Anvar Mammadov – Trend:
Liabilities of the local banks to the Central Bank of Azerbaijan (CBA) increased by 2.97 times during the year and as of Aug. 1, 2016, amounted to 7.09 billion Azerbaijani manats, said the CBA report on the results of Jan.-July 2016.
The exchange rate for Sept. 14 is 1.6390 AZN/USD.
The volume of liabilities increased by 31.8 percent compared to early 2016, and by 2.5 percent in July 2016.
Commercial banks’ liabilities to regulator amounted to 2.39 billion manats in Jan.-July 2016, 5.38 billion manats – in early 2016 and 6.92 billion manats – in late June 2016.
The growth of liabilities is related to the attraction of additional funds from the CBA to keep their liquidity after manat’s devaluation (manat’s rate decreased by almost 100 percent during 2015).
The volume of CBA’s foreign liabilities has remained unchanged – at the level of 700,000 manats since early 2015.
Official international reserves of the regulator decreased by almost twofold – from $8.5 billion to $4.16 billion during the year.
Net liabilities of the CBA to the government increased by 35.4 percent and totaled 6.23 billion manats during the reporting period, compared to the same period of 2015.
The volume of liabilities was 4.6 billion manats in Jan.-July 2015.