Azerbaijan, Baku, Dec. 10 / corr Trend N.Ismayilova /
From the beginning of 2009 to Oct.1 Azerbaijani banking sector's assets rose by 496.2 million manat or 4.8 percent to 110.8 billion manat, Central Bank of Azerbaijan's (CBA's) Financial Stability Report said.
Money mass (М3) in respect to non-oil GDP increased from 28.7 percent in 2004 to 52.4 percent as of results of nine months.
At the same time negative dynamic in assets in the first quarter of 2009 changed to a positive trend in the second quarter following the repayment of loans.
The bank loan increased by 8.3 percent or 582.3 million manat as compared to the beginning of the year to 7.599 million manat. Loan allotted for legal entities increased by 13 percent to 5.463.6 million manat. Loan allocated for individuals made up 2,300 million manat at the end of September.
By the end of third quarter special weight of the loan allocated for entrepreneur activities and production constituted 8 and 77 percent respectively in the loan portfolio for individuals. Ten percent of loan portfolio fell on real estate. By the end of the third quarter individuals' debts fell by 5.5 percent as compared to the same period of 2008, while community deposits increased by 12.2 percent. The correlation between loans and deposits fell from 128.8 percent to 108.5 percent. It indicates to cut in refinancing risks for individuals.
Over nine months of 2009 the bank extended its branches from 567 to 619. The number of its units increased from 99 to 103. So, 245 or 43 percent of bank branches function in the country's regions.
Do you have any feedback? Contact our journalist at: [email protected]