Azerbaijani banks’ total assets reach their maximum volume

Business Materials 6 January 2012 11:20 (UTC +04:00)

Azerbaijan, Baku, Jan. 6 / Trend, N.Ismayilova/

Total assets of Azerbaijani banks in 2011 reached their maximum volume and amounted to 13.665 billion manat as of early December 2011, increasing by 1.2 percent in November, while by 2.8 percent since early 2011, the Central Bank of Azerbaijan (CBA) said in its statistics report.

Banks' investments amounted to 1.27 billion manat during 11 months. The volume of loans and deposits issued to the financial sector amounted to 550.3 million manat., while loans allocated to customers - 8.9 billion manat. Funds on correspondent accounts for the period amounted to 1.039.8 billion manat. Cash of Azerbaijani banks amounted to 614.3 million manat.

Total liabilities of Azerbaijani banks as of Dec.1, 2011 amounted to 11.31 billion manat, increasing by 1.4 percent in November. Some 6.23 billion manat accounts for deposits, and 4.25 billion manat - loans and deposits received from the financial market.

Some 44 bank operate in the country.

The official exchange rate is 0.7865 manat to $1 on Jan.6.