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Azerbaijani banks expand customer base

Business Materials 13 February 2018 19:04 (UTC +04:00)

Baku, Azerbaijan, Feb. 13

By Anvar Mammadov – Trend:

The customer base of Azerbaijani banks decreased by 1.7 percent as of late 2017 compared to November but grew 7.8 percent compared to late 2016 and amounted to over 5.77 million, the Azerbaijani Central Bank’s report as of 2017 said.

According to the CBA report, most of the clients (98.6 percent) accounted for individuals, 231,500 of them were entrepreneurs. The rest of the clients (86,830 people) were legal entities.

During the reporting period, the number of client accounts in the country’s commercial banks slightly decreased compared to the previous month and amounted to more than 16.12 million. For the year, the number of client accounts increased by 6.3 percent. At the same time, over 82.5 percent of client accounts (13.3 million accounts) accounted for current accounts.

Thus, 98.7 percent (13.13 million accounts) in the structure of current accounts accounted for the current accounts of individuals, 244,420 of them are owned by entrepreneurs. The rest of current accounts belong to legal entities.

The number of client credit accounts, as of late 2017, decreased during the month by 2 percent and amounted to 2.44 million. For the year, their number increased by 7.8 percent.

The number of debit accounts in the reporting period amounted to 345,790, which is by 3.3 percent less than as of late November and 8.7 percent compared to late 2016.

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