Azerbaijani banking sector assets increase by over a quarter

Business Materials 5 October 2013 16:09 (UTC +04:00)

Azerbaijan, Baku, Oct. 5 / Trend I. Khalilova /

According to the Central Bank of Azerbaijan (CBA), as of Sept. 1, 2013, the banks' assets amounted to 18.918 billion manat compared to 15.011 billion manat in the same period of last year, CBA's statistics report said.

According to the report, bank assets increased by 26.03 per cent over a year, by 1.2 per cent in August and by 14.45 per cent since early 2013.

The basis of the assets of the banking sector accounted for loans delivered to customers to the sum of 13.187 billion manat (a 32.4 per cent increase), investments (1.519 billion manat with a 23.9 per cent increase) and funds on correspondent accounts (987.7 million manat with a decline of 5.9 per cent).

Loans and deposits to the financial sector amounted to 721.2 million manat with a growth of 8.8 per cent.

The lion share in the structure of liabilities accounts for deposits standing at 8.438 billion manat as of Sept. 1, 2013, showing an increase of 22.34 per cent compared to the same period of last year. Loans and deposits from the financial sector amounted to 6.180 billion manat, increasing by 32.07 per cent.

There are 43 banks operating in Azerbaijan.

The official exchange rate is 0,7845 AZN/USD on Oct. 5.