Azerbaijani banks expand customer base

Business Materials 16 December 2017 15:59 (UTC +04:00)

Baku, Azerbaijan, Dec. 16

By Anvar Mammadov – Trend:

The customer base of Azerbaijani banks increased by 1.2 percent as of late October 2017 compared to September and by 9.8 percent compared to November 1, 2016 and amounted to over 5.84 million, the Azerbaijani Central Bank’s report as of January-October 2017 said.

According to the CBA report, most of the clients (98.5 percent) accounted for individuals, 227,200 of them were entrepreneurs. The rest of the clients (84,640 people) were legal entities.

During the reporting period, the number of client accounts in the country’s commercial banks slightly increased compared to the previous month and amounted to more than 16.06 million. For the year, the number of client accounts increased by 6.3 percent. At the same time, over 82.8 percent of client accounts (13.29 million accounts) accounted for current accounts.

Thus, 98.8 percent (13.13 million accounts) in the structure of current accounts accounted for the current accounts of individuals, 282,230 of them are owned by entrepreneurs. The rest of current accounts belong to legal entities.

The number of client credit accounts, as of late October, decreased during the month by 1.2 percent and amounted to 2.4 million. For the year, their number increased by 1.7 percent.

The number of debit accounts in the reporting period amounted to 374,850, which is by 0.5 percent less than as of late September and 3.8 percent compared to October 2016.