Azerbaijani banks' assets increase by more than a quarter per year

Business Materials 14 December 2013 12:24 (UTC +04:00)

Baku, Azerbaijan, Dec. 14


As of November 1, 2013, the banks' assets amounted to 19.604.06 billion manat compared to 15.478.20 billion manat in the same period of 2012, according to the Central Bank of Azerbaijan.

According to the report, the bank assets increased by 26.7 percent per year, 0.04 percent in October and by 18.59 percent since early 2013, according to the report.

The basis of the assets of the banking sector (69.9 percent) accounted for loans and advances paid to customers to the sum of 13.711.0 billion manat (a 31.8 percent increase per year), investments (1.594.4 billion manat with a 19.5 percent increase) and funds on correspondent accounts (1.006.7 billion manat with an increase of 19.9 percent).

Loans and deposits to the financial sector amounted to 809.1 million manat with a growth of 8.9 percent.

The lion share in the structure of liabilities accounts for deposits standing at 8.594.3 billion manat as of November 1, 2013, showing an increase of 19.3 percent compared to the same period last year. Loans and deposits from the financial sector amounted to 6.535.0 billion manat, increasing by 35.3 percent.

Around 43 banks are operating in Azerbaijan.

The official exchange rate is 0.7844 AZN/USD on Dec. 14.

Translated by NH