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Top five banks hold 60 percent of Azerbaijani market

Business Materials 10 August 2010 15:09 (UTC +04:00)

Azerbaijan, Baku, Aug. 10 / Trend N.Ismayilova /

The total assets in the Azerbaijani banking sector amounted to 12.18 billion manat as of July 1, or 4.4 percent more than in early 2010, the Central Bank of Azerbaijan (CBA) reported.

As of June 30, 94.3 percent (10.5 billion manat) accounted for standard-quality assets, compared to 95 percent (10.142 billion manat) in early 2010. The share of non-standard assets hit 5.7 percent (634.54 million manat), compared to five percent (533.8 million manat) in early 2010. The share of poor-quality assets reached 2.4 percent (270.34 million manat), compared to two percent (215.43 million manat).

Some 1.8 percent (206.03 million manat) accounted for risky assets, compared to 1.7 percent (178.55 million manat) as of Jan. 1.

According to the CBA, the country's top five banks account for 7.485 billion manat, or 61.45 percent of the total assets on the country's banking market.

The official exchange rate is 0.8035 manat to $1 Aug. 10.

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