Capitalization of Azerbaijan’s banking sector up by 44%
Baku, Azerbaijan, June 2
By Anvar Mammadov – Trend:
Total volume of capital of Azerbaijan’s banking sector amounted to almost 2.75 billion manats in January-April 2017, according to a banking sector outlook of the Financial Market Supervisory Authority (FIMSA).
Total capital volume of Azerbaijani banks has increased by 44 percent since early 2017.
The sector’s total assets amounted to 30.78 billion manats as compared to 31.44 billion manats in late 2016.
Loan portfolio of Azerbaijani banks reached 15.03 billion manats in January-April 2017, while this figure was 15.94 billion manats in late 2016. The volume of reserves for paying off the possible losses on issued loans have risen by 3.6 percent since early 2017 and have amounted to 1.75 billion manats.
Deposit portfolio of the banking sector totaled 16.78 billion manats (16.41 billion manats in late 2016) in the period, including 6.85 billion manats in deposits of individuals, and 9.94 billion manats in deposits of legal entities.
Liabilities of banks to the Central Bank of Azerbaijan (CBA) amounted to 795.8 million manats in late April 2017 as compared to 1.695 billion manats in late 2016.
Thirty-one banks operate in Azerbaijan, including the two state-owned ones.
(1.7021 manats = $1 on June 2)