Azerbaijani banks’ assets increase by over 22 percent during a year
Baku, Azerbaijan, Nov. 28
By Azad Hasanli - Trend:
As of November 1, 2014, the assets of the Azerbaijani banking sector amounted to 23.94 billion AZN compared to 19.6 billion AZN as of October 2013, the report of the Central Bank of Azerbaijan as of January-October 2014 says.
The bank assets increased by 22.15 percent during a year, according to the Central Bank of Azerbaijan.
The basis of the assets of the banking sector (68.9 percent) accounted for loans delivered to the clients in the amount of 16.48 billion AZN (20.21 percent growth during a year), investments (2.12 billion AZN with 8.88 percent weight and 33.3 percent growth during a year) and funds on correspondent accounts (1.46 billion AZN with 6.1 percent weight and 44.56 percent growth during a year).
Loans and deposits delivered by the banks to the financial sector amounted to 983.4 billion AZN as of October 2014 (4.1 percent).
The lion share in the structure of liabilities accounts for deposits standing at 10.41 billion AZN (43.5 percent) as of November 1, 2014, showing an increase of 21.2 percent compared to the same period of 2013. Loans and deposits from the financial sector amounted to 8.09 billion AZN, increasing by 23.7 percent during a year.
There are 44 banks in Azerbaijan: 42 commercial banks and 2 state-owned banks. There are 22 banks with foreign capital. The share of foreign capital ranges from 50 to 100 percent in seven of them, while up to 50 percent in 13 banks. There are also two local branches of foreign banks.
The official exchange rate is 0.7844 AZN/USD on Nov. 28.
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edited by CN