Azerbaijan sees rise in total assets of local banks in September 2021

Economy Materials 24 October 2021 14:53 (UTC +04:00)
Azerbaijan sees rise in total assets of local banks in September 2021

BAKU, Azerbaijan, Oct.24


The total assets of Azerbaijani banks increased as of Sept. 30, 2021, Trend reports with reference to the report of the Central Bank of Azerbaijan (CBA).

According to the report, this indicator amounted to 34.5 billion manat ($20.3 billion), which is a growth of 7.7 percent compared to late Sept. 2020.

Besides, the total liabilities and balance capital of the local banks also grew – by 8.4 percent and 3.7 percent, settling at 29.6 billion manat ($17.4 billion) and 4.8 billion manat ($2.8 billion), respectively.

In September 2021, the growth tendency in the loan portfolio of Azerbaijani banks continued, the report said.

This figure for the reporting month grew by 2.2 percent (331.9 million manat or $195.2 million) to 15.5 billion manat ($9.1 billion). Totally, since the beginning of the year, the loan portfolio of the banks, 45 percent of which accounted for their assets, grew by 9.8 percent.

The share of overdue loans decreased by 0.6 percent since the beginning of the year - up to 5.5 percent, by 1.7 percent – on annual basis and by 1.9 percent – compared to the average share for 2020.

In the structure of liabilities, through the specified period the deposit portfolio prevailed (79.8 percent of the total liabilities). The banks' deposit portfolio grew by four percent in September (amounting to 900.3 million manat or $529.6 million), and since the beginning of the year it has grown by 14.1 percent.