Azerbaijani banking system assets reach record level in 2012
Azerbaijan, Baku, Nov. 10 /Trend/
As of Oct. 1, 2012, the assets of the banking sector of Azerbaijan increased to a new absolute record amounting to 15.998.220 billion manat from 15.513.850 billion manat on September 1, which was considered a record earlier this year.
Judging from the statistical report published on the website of the Central Bank of Azerbaijan (CBA), the assets of the banking system have a positive trend in 2012, as they amounted to 13.9461 billion manat earlier in the beginning of the year. The assets increased by 14.7 percent since the beginning of the year, on the annual basis - by 17.9 percent.
The basis of the banking sector assets (63.3 percent) accounts for loans to customers in the amount of 10,130.4 million manat (annual growth of 15.7 percent), investments (1.256.7 billion manat, increasing by 2.3 per cent) and the means on correspondent accounts (1069 million manat with a decrease of 4.5 percent). Loans and deposits to the financial sector amounted to 769 million (with an increase of 28 percent).
The main part in the structure of liabilities (44.12 per cent) accounts for deposits (7058.3 million manat), increased by 15.4 percent compared to the same period last year. Loans and deposits from the financial sector accounted for 4755.8 million manat, increasing by 8.45 percent.
There were 43 banks in Azerbaijan in the third quarter of 2012: 42 commercial banks and one state bank.
The official exchange rate on Nov 10 is 0.785 AZN/USD.