Azerbaijani banking sector assets reach almost $ 20 billion

Business Materials 21 October 2012 12:49 (UTC +04:00)

Azerbaijan, Baku, Oct. 21 / Trend /

According to the Azerbaijani Central Bank (CBA), as of September 1, the assets of the banks in the country overcame the record level, reaching 15.513.85 billion manat compared to 14.978.58 billion manat as of August 1. The August figure was also considered a record that period.

According to the CBA statistical report, published on its website, the assets of the banking system in the current year have a positive trend, given that as of early 2012 they hit 13.946.1 billion manat. Thus, the assets have increased by 11.2 percent since early 2012, while in annual calculation - by 16.6 percent.

The loans given to the customers to the amount of 9.963.3 billion manat (increased by 15.56 percent per year), investments (1.226.6 billion manat reducing by 3.8 percent) and funds on correspondent accounts (1.049.4 billion manat, increasing by 23.27 percent)form the basis of the assets of the banking sector. Loans and deposits given for the financial sector amounted to 662.8 million manat (increasing by 15.3 percent).

The deposits (6.897.7 billion manat as of September 1) hit the main part in the structure of liabilities. They increased by 18.3 percent compared to the same period of last year. Loans and deposits obtained from the financial sector, amounted to 4.679.5 billion manat, increasing by 7.17 percent.

There are 43 banks in Azerbaijan.

The official exchange rate is 0.7851 AZN/USD on Oct. 21.