Azerbaijani banks' assets increase more than 23%

Business Materials 3 July 2014 13:53 (UTC +04:00)

Baku, Azerbaijan, July 3
By Zulfiyya Gurbanova - Trend:

As of June 1, 2014, the assets of the Azerbaijani banking sector amounted to 22.14 billion AZN compared to 17.99 billion AZN in May 2013, according to the statistical report of the Azerbaijani Central Bank.

The bank's assets grew by 23.1 percent a year, the CBA said.

The base of the assets (69 percent) of the banking sector during the reported period accounted for the loans allocated to the customers in the amount of 15.27 billion AZN (annual growth of 25.5 percent), investments (1.94 billion AZN with specific weight of 8.77 per cent and the annual growth of 20.5 percent) and funds on correspondent accounts (1.28 billion AZN).

The loans and deposits issued by banks to the financial sector amounted to 1.03 billion AZN as of May 2014.

The major share in the structure of liabilities (43.11 per cent) were made up of deposits (9.54 billion AZN as of June 2014), which increased by 12.4 percent compared to the same period in 2013. The loans and deposits received from the financial sector amounted to 7.37 billion AZN, increasing by 33 percent.

Azerbaijan has 44 banks operating.

The official exchange rate on July 3 is 0.7844 AZN / USD.

Edited by CN