Baku, Azerbaijan, April 10
By Emin Aliyev - Tend:
Azerbaijani banking sector's assets as of March 1, 2014 stood at 2.08 billion manats versus 1.67 billion manats as of late February, 2013, according to a report from the Central Bank of Azerbaijan (CBA).
CBA said the bank assets increased by 24.65 percent over the year.
The basis of banking sector assets (68.6 percent) accounted for 14.280 million manats worth loans granted to customers (a 28.9 percent increase over the year), investments (1.717 million manats with an 8.3 percent increase) and funds on correspondent accounts (1.270 million manats with a growth of 27.8 percent).
Loans and deposits granted to the financial sector stood at 923 million manats with a growth of 29.5 percent.
The lion's share (45.03 percent) in the structure of liabilities accounts for deposits (standing at 9,374.2 million manats as of March 1, 2014), which increased by 25.5 percent compared to February, 2013.
The loans and deposits from the financial sector totalled 6,949.2 million manats, increasing by 30.4 percent.
There are currently 43 banks in Azerbaijan.
The official exchange rate on April 10 is 0.7844 AZN/USD.
Translated by E.A.
Edited by S.I.