Azerbaijani banks’ assets increase by over quarter per year
Baku, Azerbaijan, Jan. 13
By Emin Aliyev - Trend:
As of December 1, 2013, the assets of the Azerbaijani banking sector amounted to 20.183.56 billion manat compared to 15.868.42 billion manat in the same period of 2012.
The bank assets increased by 27.19 percent per year, 2.96 percent in November and by 22.1 percent since the beginning of the year, according to the Central Bank of Azerbaijan's report.
The basis of the assets of the banking sector (69.2 percent) accounted for loans delivered to the clients to the sum of 13.962.8 billion manat (a 33.06 percent increase per year), investments (1.622.2 billion manat with a 12.94 percent increase) and funds on correspondent accounts (1.138.3 billion manat with an increase of 5.35 percent).
Loans and deposits to the financial sector amounted to 895.9 million manat with a growth of 21.66 percent.
The lion share in the structure of liabilities accounts for deposits standing at 8.892.6 billion manat as of December 1, 2013, showing an increase of 19.7 percent compared to the same period 2012. Loans and deposits from the financial sector amounted to 6.738.6 billion manat, increasing by 38 percent.
Around 43 banks operate in Azerbaijan.
The official exchange rate is 0.7844 AZN/USD on Jan. 13.
translated by NH
edited by CN