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Azerbaijani banks’ assets increase by over 10 percent

Business Materials 6 May 2012 13:25 (UTC +04:00)

Azerbaijan, Baku, May 6 / Trend A.Akhundov /

According to the Central Bank of Azerbaijan (CBA), as of March 1, 2012 assets of banks amounted to 14.640.13 billion manat against 13.157.71 billion manat in the same period last year, CBA statistical report said on Saturday. During the year bank assets grew by 11.3 percent.

The total liabilities of the banking sector were estimated at 14.640.13 billion manat.

The basis of the assets of the banking sector were loans to customers at 9.223.4 billion manat (an increase of 7.9 per cent during a year), investment (1.498.7 billion manat with growth of 29.9 per cent) and money at correspondent accounts (1.282.7 billion manat with growth of 9.9 per cent). Loans and deposits issued to financial sector amounted to 582.1 million manat (with growth of 6.5 per cent).

In the structure of liabilities the bulk is deposits (6.849.3 billion manat as of March 1, 2012), an increase of 34.8 percent over the same period last year. Loans and deposits received from the financial sector, amounted to 4.469.6 billion manat, a decrease of 13.1 percent.

There are 44 banks in Azerbaijan.

The official exchange rate is 0.786 AZN to $1 on May 6.

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