Assets of Azerbaijani banking sector increase by almost a quarter during year
Baku, Azerbaijan, Aug. 7
As of July 1, 2014, the assets of the Azerbaijani banking sector amounted to 22.57 billion manat compared to 18.19 billion manat as of June 2013, according to the Azerbaijani Central Bank's report as of January-June 2014.
The bank assets increased by 24.1 percent during a year, according to the Central Bank of Azerbaijan's report.
The basis of the assets of the banking sector (68.5 percent) accounted for loans delivered to the clients to the sum of 15.47 billion manat (23.27 percent growth during a year), investments (1.905 billion manat with a 8.44 percent weight and 21.1 percent growth during a year) and funds on correspondent accounts (1.407 billion manat).
Loans and deposits issued by the banks to the financial sector amounted to 1.167 billion manat as of June 2014.
The lion share in the structure of liabilities accounts for deposits standing at 9.554 billion manat (42.33 percent) as of July 1, 2014, showing an increase of 13.25 percent compared to the same period of 2013. Loans and deposits obtained from the financial sector amounted to 7.884 billion manat, increasing by 34.2 percent during a year.
Some 44 banks operated in Azerbaijan as of the second quarter of 2014, namely, 42 commercial banks and one state-owned bank. There are 22 banks with foreign capital. The share of foreign capital in seven of them is from 50 to 100 percent, in 13 banks - up to 50 percent. Two local branches of foreign banks also operate.
The official exchange rate is 0.7843 AZN/USD on Aug. 7.