Azerbaijani banks’ assets increase by 37% during a year
Baku, Azerbaijan, Apr. 15
By Anvar Mammadov - Trend:
As of March 1, 2015, the assets of the Azerbaijani banking sector amounted to 28.63 billion manats (AZN) compared to 20.82 billion manats on the results of January-February 2014, the report of the Central Bank of Azerbaijan on the results of the two months of 2015 said.
The official exchange rate is 1.0511AZN/USD on Apr. 15.
The bank assets increased by 37.53 percent during a year, and by 13.7 percent since the beginning of 2015, according to the Central Bank of Azerbaijan.
The basis of the assets of the banking sector (67 percent) accounted for loans delivered to the clients in the amount of 19.17 billion manats (34.24 percent growth during a year), other assets (2.22 billion manats with 33.1 percent growth during a year), investments (2.59 billion manats with 51 percent growth during a year).
Funds on correspondent accounts on the results of February 2015 were 2.02 billion manats.
Loans and deposits delivered by the banks to the financial sector amounted to 1.298 billion manats (4.5 percent weight and 40.6 percent growth during a year).
The lion share in the structure of liabilities accounts for deposits standing at 12.5 billion manats (43.55 percent) as of March 1, 2015, showing an increase of 33.02 percent compared to the same period of 2014. Loans and deposits from the financial sector amounted to 10.38 billion manats (36.27 percent), increasing by 49.45 percent during a year.
The capitalization of the banking sector in February declined by 2.4 percent, amounting to 4.110.9 billion manats. In annual terms, the capital of banks increased by 22.06 percent.
There are 45 banks in Azerbaijan: 43 commercial banks and 2 state-owned banks.
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