Almost 58 percent of total assets account for Azerbaijan’s top 5 banks
Azerbaijan, Baku, Nov.15 / Trend, N. Ismayilova /
Total assets of Azerbaijani banks as of Oct.1, 2011, amounted to 13.567 billion manat, which is 2.1 percent more compared to early 2011, the Central Bank of Azerbaijan (CBA) said in its report on financial stability.
As of Sept.30, 90.5 percent (8.88 billion manat) of their total assets accounted for a standard quality assets compared to 93.7 percent (11.15 billion manat) in early 2011. The share of non-standard assets hit 9.5 percent (820.35 million manat) compared to 6.3 percent (749.73 million manat) in early 2011, including poor quality assets hit 3.7 percent (320.1 million manat) compared to 2.5 percent (302.12 million manat), respectively.
Three percent (263.23 million manat) accounted for risky assets compared to two percent (239.38 million manat) as of Jan.1, 2011, and 2.7 percent (237.02 million manat) - bad assets compared to 1.7 percent (208.16 million manat).
According to the CBA, the top five banks in the country have total assets at 7.865.05 billion manat, or 57.97 percent of total banking assets. Some 3.138.12 billion manat assets or 23.13 percent of the total volume on the sector accounts for the banks ranking 6th-15th, and the banks from 16th to 30th - 1.969.63 billion manat (14.52 percent).
Banks ranking above 31st, account for 4.38 percent of the total volume (594.83 million manat).
Some 44 banks operate in Azerbaijan.
The official exchange rate is 0.7866 manat to $1 on Nov.15.