BAKU, Azerbaijan, October 24. The assets of Azerbaijan's banking sector amounted to 50.8 billion manat ($29.8 billion) as of October 1, 2024.
The data obtained by Trend from the country's Central Bank show that this is 11.7 percent more than in the same period last year.
According to the information, 25.16 billion manat ($14.8 billion) of the banks' assets amounted to net loans issued to customers. The growth of the sector's loan portfolio continued in September. The credit portfolio of banks in the reporting month grew by 2.4 percent, or 630.4 million manat ($370.8 million), amounting to 26.7 million manat ($15.7 million).
The structure of the loan portfolio during the reporting period was the following: business loans - 54 percent (14.4 million manat ($8.4 million)), consumer loans - 30.5 percent (8.1 million manat ($4.7 million)), mortgage loans - 15.5 percent (4.1 million manat ($2.4 million)).
The share of overdue loans in the total loan portfolio (including NCOs and credit unions) decreased by 0.6 percentage points compared to the corresponding period of the previous year and amounted to 1.7 percent.