Five banks occupy half of banking market in Azerbaijan
Azerbaijan, Baku, Aug.10 /Trend A.Akhundov/
The total assets of banks in Azerbaijan amounted to 14.78 billion manat as of July 1, increasing by 12.48 percent compared to the beginning of the year, the Central Bank of Azerbaijan (CBA) said on Friday.
According to the CBA, the country's top five banks have total assets at 8.37 billion manat, or 56.63 percent of total banking assets and 58.67 percent (7.4 billion manat) of the total market liabilitiest.
The share of banks occupying 6-15 positions accounts for 3.53 billion manat assets (23.86 percent), 3.02 billion manat obligations (24.08 percent), and 0.56 billion manat of total capital (26.65 percent).
The share of banks that ranks above the 31th, account for only 4.57 per cent of total assets (675.51 million manat), 3.66 percent of liabilities (459.38 million manat), 6.54 percent of total capital (136.3 million manat).
Crediting of the country's economy by 5 top banks accounts for 5.672 billion manat (54.77 percent of total credit investments) compared to 2.642 billion manat (25.51 percent) by 6-15th banks in the country, 1.565 billion manat (15.11 percent) by 16-30th banks, while the share of banks that are located from 31 to 43rd place accounts for 476.56 million manat (4.6 percent).
There are 43 banks operating in Azerbaijan.
The official exchange rate on Aug. 10 is 0.7854 AZN/USD.