Regularity of foreign borrowings ensures stability of banking system of Azerbaijan
Azerbaijan, Baku, March 12 /Trend A.Akhundov/
Sixteen percent of the liabilities of the banking system of Azerbaijan, or 1.9 billion manat accounts for the foreign borrowings.
It was stated in a government report on the results of 2011, presented to the Parliament.
"The regularity of foreign borrowings ensures the stability of banking system of Azerbaijan, this activity continued in 2011," the report said.
Foreign borrowings amounted to 1 billion manat in 2011. The volume of foreign investments attracted to the capital of Azerbaijani banks, increase to 50.6 million manat in 2011.
The Central Bank of Azerbaijan (CBA) noted that the number of banks with foreign capital increased in the country in 2011.
Today there are 23 banks with foreign capital in the country compared to 22 banks in the third quarter of 2011. The proportion of foreign capital formed in the range from 50 to 100 percent in seven of them, up to 50 percent - in 14 banks; there are also two local branches of foreign banks.
During this reporting period 44 banks had a license to conduct banking activities.
The number of structures of banks operating abroad is nine, including six offices, two subsidiaries of the bank and one branch. Azerbaijan also has five representative offices of foreign banks.
Official exchange rate on March 12 is 0.7863 AZN/USD