Azerbaijani banks' total assets increase by nearly 8 percent
Azerbaijan, Baku, July 21 / Trend, N.Ismayilova /
Total assets of Azerbaijani banks as of June 1, 2011 amounted to 12.97 billion manat, which is 7.8 percent more compared to early May 2010, the Central Bank of Azerbaijan said.
Banks' investments amounted to over 1.261 million manat, increasing by 43 percent compared to May, loans allocated to customers - 8.142 million manat (0.3 percent). The volume of loans and deposits issued by the financial sector amounted to 557.2 million manat. Funds on correspondent accounts for the period amounted to 1.121 million manat. Cash of Azerbaijani banks as of June 1, 2010 amounted to 551.8 million manat.
Total liabilities of Azerbaijani banks as of June 1, 2010 amounted to 10.723 billion manat, increasing by 7.1 percent during the year. About 5.55 million manat falls to deposits, and 4.29 million manat - loans and deposits received from the financial market.
There are 44 banks in Azerbaijan.
The official exchange rate is 0.7864 manat to $1 on July 21.