Azerbaijan, Baku, June 23 / Trend, N. Ismayilova /
International auditing company Ernst & Young has completed an audit of financial statements of the Central Bank of Azerbaijan in 2009 and confirmed its compliance with international accounting standards, validity in all terms of the CBA's financial state as of December 31 of 2009, its financial activity and cash flows for last year, said in the CBA's financial report for 2009.
According to the Ernst & Young, the CBA's assets, as of late 2009 amounted to 6.17 billion manat, increasing by 10.5 percent in 2009. Loans to residents on the balance sheet date amounted to 1,445 billion manat compared to 201.5 million manat as of late 2008.
The CBA's obligations amounted to 6.144 billion manat, and their growth - 5.4 percent. Circulated bank notes and coins amounted to 4.512 billion manat compared to 4.426 billion manat in 2008. Commitments to credit institutions decreased from 567.6 million 394.4 million manat, and to state offices increased from 605.6 million to 976.4 million manat.
Capital deficit in 2009 decreased from 245,399 million to 26,654 million manat. The CBA's authorized capital was 10 million manat as of late 2009. Capital reserves, formed by the bank in 2009 amounted to 209,517 million manat.