Baku, Azerbaijan, Jan. 5
By Anvar Mammadov – Trend:
As of late November 2017, Azerbaijani banks’ liabilities to the country’s Central Bank (CBA) decreased to 548.6 million manats, or by more than three times compared to the volume of liabilities in the same period of 2016, according to the report of the country’s Financial Market Supervisory Authority.
For the year, banks have reduced their liabilities by 21.4 percent, from 29.58 billion manats to 23.26 billion manats, according to the report. The main share of liabilities accounted for deposits – 15.72 billion manats (a 6.9 percent reduction since the beginning of the year).
For the year, the assets of the banking sector decreased by 17.2 percent, and amounted to 26.39 billion manats as of December 1, 2017.
The main reason for the assets’ reduction was a 25.3 percent decrease in the volume of loan portfolios of banks - to 11.78 billion manats compared to the volume of banks’ loan portfolios in late November 2016. Loans allocated to banks and other financial institutions also significantly reduced. For the year, their volume has decreased by 2.6 times, to 285 million manats.
There are 30 banks in Azerbaijan, including two state-owned ones.