Capitalization of Azerbaijan's banking sector increases
BAKU, Azerbaijan, Feb. 15
By Eldar Janashvili - Trend:
The total liabilities of the banking sector of Azerbaijan increased by 10.6 percent in 2019, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to CBA, the total liabilities of the country's banking sector increased by 2.7 million manat ($1.5 million), and amounted to 28.1 billion manat ($16.5 billion). The largest share of liabilities accounted for deposits, which increased by 14.7 percent up to 75.7 percent, or 21.3 billion manat ($12.5 billion). At the same time, the bulk of deposits, about 72 percent, accounted for deposits of legal entities worth 12.8 million manat ($7.5 million). Their increase on an annualized basis amounted to 24.3 percent. The volume of deposits of individuals amounted to slightly above 8.5 million manat ($5 million), showing an increase of 2.8 percent.
“Liabilities to credit and financial organizations, the CBA and state funds amounted to 3.6 billion manat ($2.1 billion), decreasing by 5.2 percent since the beginning of 2019. The amount of securities issued by banks exceeded 1.7 million manat ($1 million). Other liabilities amounted to 1.2 billion manat ($705.8 million),” CBA said.
The share capital has not changed since the beginning of 2019 and amounted to 225.8 billion manat ($132.8 billion). The bank’s uncovered loss amounted to 9 million manat ($5.2 billion). Total reserves amounted to 13.4 million manat ($7.8 million), an increase of 5.3 percent.
The capitalization of the banking sector of Azerbaijan in 2019 amounted to 4.5 billion manat ($2.6 billion), which is 511.2 million manat ($300.7 million), or 12.5 percent more compared to 2018, the source said.
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