Azerbaijani banks’ assets up by 8 percent
Azerbaijan, Baku, March 14 / Trend A.Akhundov /
According to the Central Bank of Azerbaijan (CBA), as of Feb 1, 2012 the assets of banks exceeded 14.205 billion manat compared to over 13.133 billion manat as of Feb 1, 2011, the statistical report of the Central Bank said today. The banking assets increased by 8.16 percent during the year.
The total liabilities of the banking sector were estimated at more than 14.205 billion manat.
The basis of the banking sector's assets includes the loans to the clients to the amount of over 9.118 billion manat, investments (over 1.487 billion manat) and funds on correspondent accounts (982.5 million manat). About 571.3 million manat fall to the loans to the financial sector.
The structure of liabilities includes the deposits (over 6.606 billion manat as of Feb 1, 2012). Loans and deposits of the financial sector amounted to 4.368 billion manat.
There are 44 banks in Azerbaijan.
The official exchange is 0.7864 AZN to $1 on March 14.