Baku, Azerbaijan, Nov. 21
By Abbas Akhundov - Trend:
Azerbaijani banks' liabilities increased by 16.3 percent from January - September, reaching 16.247 billion manat as of late September, the Central Bank of Azerbaijan's (CBA) report on financial stability as of the first three quarters said on Monday.
The funds, drawn by banks from the domestic market, increased by 11.5 percent to 11.292 billion manat or 73.4 percent of the total liabilities.
Deposits of legal and physical entities preserved a role of the main source in the formation of the resource base of Azerbaijani banks during the reporting period.
The population's deposits increased by 22 percent to 6.24 billion manat over a nine month period. Their share in the structure of bank liabilities amounted to 38.4 percent by the end of the reporting period. The share of term deposits among all deposits was 79 percent by the end of the third quarter and amounted to 4.93 billion manat in absolute terms. Maintaining the economic stability, ensuring a stable and long-lasting activity of the banks, increasing the public confidence in the banking system had a positive effect on the trend of increasing long-term deposits. Their volume increased by 32.5 percent for the nine months, while the share in the structure of all deposits was 42 percent.
Non-resident physical entities' deposits increased by 27 percent during this period. Legal entities' deposits amounted to 5.69 billion manat.
The amount of the funds drawn from non-resident banks and international financial organizations increased by 32.3 percent and amounted to three billion manat by the end of nine months.
There are 43 banks in Azerbaijan, of which 42 are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate is 0.7844 AZN/USD on Nov. 21.