Total assets of Azerbaijani banks exceed 30B AZN
Baku, Azerbaijan, Sept. 1
By Eldar Janashvili – Trend:
According to data provided by Azerbaijan’s Financial Market Supervisory Authority (FIMSA), the capitalization of the banking sector of Azerbaijan amounted to 4.599 billion manats during the first 7 months of 2019, which is 695.7 million manats or 17.8 percent more than the same period last year, Trend reports.
The total assets of the banks as of July 30, 2019 increased by 7.7 percent compared to the same period last year, having reached 30.1 billion manats.
During the reporting period, the amount of cash at the disposal of banks amounted to almost 1.327 billion manats. Some 2.3 billion manats were on correspondent accounts with the Central Bank of Azerbaijan (CBA) and 2.166 billion manats on nostro accounts (correspondent accounts with other banks). Bank investments in securities reached 4.023 billion manats (an increase of over 30 percent compared to July last year).
Banks increased lending by 13.4 percent, and the total loan portfolio of banks amounted to 13.342 billion manats by July 30, 2019. Provisions for 1.496 billion manats were created on these loans.
The total liabilities of the Azerbaijani banking sector increased by 6.2 percent to 25.51 billion manats. The largest share of liabilities was comprised of deposits at 74.6 percent, or 19.044 billion manats (an increase of 10.1 percent). The volume of deposits of individuals amounted to 8.471 billion manats, and that of legal entities to 10.573 billion manats.
Bank liabilities to the CBA dropped by 2.6 times to 160.7 million manats.
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