Azerbaijani banks’ liabilities to Central Bank increase

Business Materials 6 December 2016 11:27

Baku, Azerbaijan, Dec. 6

By Anvar Mammadov – Trend:

Liabilities of local banks to the Central Bank of Azerbaijan (CBA) increased by 55.7 percent during the year and as of Nov. 1, 2016, amounting to 7.5 billion Azerbaijani manats, said the CBA report on the results of 10 months of 2016.

The volume of liabilities increased by 39.7 percent as compared to the figure for early 2016, and increased by 3.6 percent during October.

In January-October 2015, liabilities of commercial banks to the CBA totaled 4.8 billion manats, in early 2016 – 5.3 billion, in late September – 7.2 billion manats.

The increase of liabilities is related to the attraction of additional funds from the CBA to keep their liquidity after manat’s devaluation (manat’s rate decreased by almost 100 percent during 2015).

The volume of CBA’s foreign liabilities has changed for the first time since early 2015; it increased by more than three times and amounted to 2.2 million manats.

Official international reserves of the regulator decreased by 41.4 percent – from $6.8 billion to $4 billion during the year.

During the period, net liabilities of the CBA to the Azerbaijani government increased by 1.8 percent and totaled 6.59 billion manats, as compared to the same period of 2015.