Growth rates of bank assets remain low in Azerbaijan
Baku, Azerbaijan, April 26
By Kheyraddin Nasirzade – Trend:
In January-March 2019, the assets of Azerbaijani banks increased by 0.3 percent, with the growth rates remaining low, Elman Rustamov, Chairman of Central Bank of Azerbaijan (CBA), told journalusts at a press conference in Baku, Trend reports.
According to him, the volume of consumer loans issued to households increased by 2.3 percent during the reporting period. This suggests that the existing problems in the banking and real sectors make it difficult to finance the economy through loans, despite the liquidity surplus, Rustamov said.
Nevertheless, the stable exchange rate of the Azerbaijani manat helps to reduce dollarization. The CBA Chairman noted that the volume of dollar deposits of individuals in banks dropped from 60.5 to 58.7 percent.
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